Interim Results for Six Months Ended 30 June 2026

World Chess PLC

30 September 2026

30 September 2026

World Chess Plc

("World Chess" or the "Company" or the "Group")

Interim Results for the Six Months Ended 30 June 2026

World Chess Plc (LSE: CHSS), the London-listed chess gaming and entertainment company and official commercial partner of the International Chess Federation ("FIDE"), announces its unaudited condensed consolidated interim financial information for the six months ended 30 June 2026.

Financial Overview for the six months ended 30 June 2026

●     Revenue from continuing operations of €856k (H1 2025: €808k), with platform revenue from WorldChess.com up 32% to €539k (H1 2025: €409k).

●     Gross profit up 88% to €287k (H1 2025: €153k); gross margin 33.5% (H1 2025: 18.9%).

●  Loss from continuing operations of €1.57m (H1 2025: €1.06m), reflecting increased marketing and product development expenditure.

●     Equity fundraise of €1.43m (H1 2025: €2.38m); cash of €7,339 and digital assets of €18k at 30 June 2026 (€25k combined), with €6m available and undrawn under its existing shareholder loan facility; a further €350k unsecured shareholder loan agreed on 1 September 2026.

Trading and Operations:

The Group continued to focus its resources on WorldChess.com and the development of scalable digital revenues. During the period, product development concentrated on improving the player experience, engagement and conversion, while the Group also advanced initiatives designed to broaden the platform's addressable market and deepen its position within organised chess.

Following the closure of the World Chess Club Berlin in May 2025, the Group entered 2026 with a more focused, capital-light operating model centred on its digital platform, media, events and merchandising activities.

The consolidation of the Group's consumer-facing services under WorldChess.com was completed in 2025. During the first half of 2026, the Group built on this foundation through product development, player acquisition activity and closer integration with FIDE and national federations.

Strategic progress and funding

During the period the Company raised €1.43m by way of subscription from new and existing shareholders. The proceeds have supported continued investment in the Group's digital platform, marketing and growth strategy.

During the period, the Group launched the 'Chess Is Very Good For You' global brand and player-acquisition campaign and signed a non-binding term sheet with FIDE for a proposed expansion of their partnership. The proposed framework would create the first official pathway for qualifying online players to convert an online rating into a FIDE over-the-board rating, adding a potential conversion-fee revenue stream alongside subscriptions.

This condensed consolidated interim financial information has not been audited or reviewed by auditors pursuant to the Financial Reporting Council guidance on Review of Interim Financial Information.

For more information, please visithttps://worldchess.com/investors or contact:

World Chess Plc

Ilya Merenzon, Chief Executive Officer

merenzon@worldchess.com

AlbR Capital (Financial Adviser)

David Coffman / Dan Harris

+44 (0) 20 7399 9400

Notes to Editors

World Chess (LSE: CHSS) is a London-listed chess gaming and entertainment company and FIDE's official commercial partner. It operates World Chess (worldchess.com), the official FIDE gaming platform, where players earn official FIDE-recognised online ratings and titles. World Chess organised the FIDE World Championship Matches in the USA and the UK, signed the largest media partnerships in the history of the sport, and created Armageddon, the chess league for prime-time television. In June 2026 World Chess and FIDE agreed a non-binding term sheet to create the first official pathway from online ratings to FIDE over-the-board ratings, and in September 2026 they applied to ICANN for the .chess top-level domain. More at worldchess.com.

INTERIM MANAGEMENT REPORT

Overview

The first half of 2026 was a period of strategic execution for World Chess. Having consolidated its consumer-facing services under WorldChess.com during 2025, the Group entered the period with a clearer, more scalable and capital-light model. Management's priorities were to improve the digital product, acquire and retain players, deepen the Group's relationship with FIDE and national federations, and develop additional revenues from the infrastructure of organised chess. Platform revenue grew 32% year on year and gross margin improved from 18.9% to 33.5%, while the loss from continuing operations widened as the Group invested in marketing and product.

Funding and liquidity

During the period the Company raised €1.43m by way of subscription from new and existing shareholders. The proceeds funded product development, the launch of the 'Chess Is Very Good For You' campaign and working capital. The Group operates with minimal cash balances by design: it has access to a €6m loan facility from a substantial shareholder and draws on it only as required, rather than holding borrowed funds on deposit. At 30 June 2026 cash was €7,339 and the Group also held digital assets of €18k, giving combined liquid resources of €25k, and no amounts were drawn under the facility; current borrowings of €41k comprise a short-term advance from the Group's payment services provider. On 1 September 2026 the Company agreed a further unsecured shareholder loan of €350k (see Subsequent events below). The Group remains at a relatively early stage of monetising its user base and continues to manage expenditure and liquidity closely; the going concern assessment is set out in note 2.

Trading performance

Revenue from continuing operations was €856k (H1 2025: €808k), an increase of 6%. Platform revenue from WorldChess.com rose 32% to €539k and now represents 63% of Group revenue (H1 2025: 51%). The balance comprises merchandising and chess advisory services, together with a lower contribution from tournaments and World Chess TV in the absence of a major live event in the period.

Gross profit increased 88% to €287k (H1 2025: €153k) and gross margin improved to 33.5% (H1 2025: 18.9%), reflecting the growing weight of subscription revenue in the mix and a lower contribution in the period from lower-margin tournament and content activity.

Administrative expenses were €1.85m (H1 2025: €1.19m), the increase reflecting the 'Chess Is Very Good For You' marketing campaign (approximately €100k) and platform development costs expensed as incurred (approximately €320k), with the balance arising across central overheads, professional fees and other operating costs. The loss for the period was €1.57m (H1 2025: €2.12m, of which €1.05m related to the discontinued Berlin club venue).

Digital platform and product development

The Group continued to develop WorldChess.com as the central destination for its consumer-facing services. Work during the period built on the unified domain, rebuilt mobile application and The Tower progression system launched in 2025. The strategic objective is to improve engagement and paid conversion while extending the platform beyond consumer play into tools for clubs and federations, including the management of events and rated competitions. India and other high-growth chess markets remain important to the Group's acquisition and product strategy.

FIDE partnership and ratings pathway

On 10 June 2026, World Chess announced that it had signed a non-binding term sheet with FIDE to renew and significantly expand the partnership under which the Group operates FIDE's official online platform. The proposed framework would make World Chess the sole operator of an official route through which qualifying online players could convert their online rating into a FIDE over-the-board rating. In addition to strengthening the value of the WorldChess.com subscription proposition, the framework envisages a new conversion-fee revenue stream. It remains subject to public consultation, agreement of detailed technical parameters and execution of definitive documentation. World Chess and FIDE have worked on the conversion of online ratings to over-the-board ratings and will finalise the framework following the FIDE elections so that the new administration is able to contribute.

Brand, audience and media

In May 2026, the Group launched 'Chess Is Very Good For You', a global brand and player-acquisition campaign. The campaign began across central London and its creative materials were offered to approximately 200 national chess federations for local use, providing a route to international distribution at limited incremental cost. The campaign is intended both to attract newcomers to WorldChess.com and to strengthen World Chess's positioning as the commercial and digital platform serving the wider chess community.

The Group continued to use media and content to broaden the audience for chess and support awareness of WorldChess.com. In January 2026, The World Chess Show expanded its distribution through BILD's streaming platform in Germany, building on the programme's existing international reach. The Group's media activity forms part of an integrated model in which content, live events, the digital platform and commercial partnerships support player acquisition and engagement.

The Board believes that World Chess's combination of an official relationship with FIDE, a registered user base of more than one million, proprietary digital products and recognised media and event capabilities provides a differentiated position in a large global market. The immediate focus remains disciplined execution: converting audience reach into recurring revenues, completing the expanded FIDE framework, and developing products and infrastructure that serve players, clubs and federations.

Outlook

The priorities for the second half of 2026 are: growing paid conversion on WorldChess.com; concluding definitive documentation with FIDE for the expanded partnership and ratings pathway; progressing the .chess application through ICANN's evaluation process; and securing the funding required to execute these plans. The Board will update shareholders on each as they progress.

Board and governance

Neil Rafferty stepped down as Interim Chair and as a Director on 11 May 2026, and Jamison Reed Firestone, Non-Executive Director, was appointed Interim Chair with immediate effect. The Board has commenced a formal process to appoint a permanent Chair whose skills and experience align with the Group's technology-led growth strategy. Governance, liquidity and risk management remain key areas of Board focus as the Group executes its plans.

Subsequent events: .chess domain application and shareholder loan

On 1 September 2026, the Company announced that, through a wholly owned subsidiary and in cooperation with FIDE, it had applied to ICANN for the .chess generic top-level domain. If successful, World Chess would operate and manage the domain extension on behalf of FIDE, with the objective of creating trusted digital identifiers for federations, clubs, tournaments, titled players and other participants in the global chess ecosystem. The application is subject to ICANN's evaluation process and there can be no certainty that it will succeed.

The Company also announced an unsecured loan of €350k from an existing shareholder, bearing interest at 4 per cent. per annum and repayable one year from drawdown, with the Company entitled to prepay without penalty. In consideration for the loan the Company granted the lender warrants over 16.3 million new ordinary shares at an exercise price of 0.325 pence per share, representing approximately 1.5 per cent. of the issued share capital. The proceeds are being applied primarily to the costs of the ICANN application and the planned marketing of the .chess project, together with general working capital.

Risks and uncertainties

The principal risks and uncertainties facing the Group remain consistent with those disclosed in the 2025 Annual Report and Accounts, which is available on the Company's website at https://worldchess.com/investors. The Board continues to monitor these risks closely.

As noted in the Going concern section of this interim report (see note 2: Going concern), execution of the Group's strategy is likely to require additional funding within the next 12 months, and the timing and availability of such funding represents an ongoing risk.

Approved by the Board on 29 September 2026 and signed on its behalf by:

Jamison Reed Firestone	Ilya Merenzon
Interim Chair and Non-Executive Director	Chief Executive Officer

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30 JUNE 2026

			6 months to 30 June 2026 Unaudited		6 months to 30 June 2025 Unaudited		Year ended 31 December 2025 Audited
	Notes		€		€		€
Revenue	3		855,754		808,160		2,029,433
Cost of sales			(568,876)		(655,407)		(1,419,901)
GROSS PROFIT			286,878		152,753		609,532
Administrative expenses			(1,854,550)		(1,192,948)		(3,274,230)
OPERATING LOSS			(1,567,672)		(1,040,195)		(2,664,698)
Finance costs	5		(3,528)		(20,787)		(21,856)
Finance income	5		1,334		68		1,212
Loss before income tax - continuing operations			(1,569,866)		(1,060,914)		(2,685,342)
Income tax - continuing operations			-		-		(192)
Loss for the period - continuing operations			(1,569,866)		(1,060,914)		(2,685,534)
Loss for the period - discontinued operations (net of tax)	4		-		(1,054,338)		(974,407)
LOSS FOR THE PERIOD			(1,569,866)		(2,115,252)		(3,659,941)
OTHER COMPREHENSIVE INCOME
(Loss)/gain on currency translation			5,828		(26,540)		(25,763)
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD			(1,564,038)		(2,141,792)		(3,685,704)
Loss attributable to:
Owners of the parent			(1,569,866)		(2,115,252)		(3,659,941)
Total comprehensive income attributable to:
Owners of the parent			(1,564,038)		(2,141,792)		(3,685,704)
Loss per share
Basic and diluted:	6
Continuing operations			(0.002)		(0.002)		(0.003)
Discontinued operations			-		(0.001)		(0.002)
Total			(0.002)		(0.003)		(0.005)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 30 JUNE 2026

				30 June 2026 Unaudited		30 June 2025 Unaudited as restated		31 December 2025 Audited
	Notes			€		€		€
NON-CURRENT ASSETS
Owned: Intangible assets		8		2,863,311		3,280,780		3,030,080
Owned: Property, plant and equipment		9		5,348		453		8,675
Trade and other receivables				-		162,884		-
Deferred tax				-		111,374		-
				2,868,659		3,555,491		3,038,755
CURRENT ASSETS
Inventories				120,105		130,513		129,512
Trade and other receivables				272,957		290,895		137,563
Tax receivable				31,615		24,323		9,667
Digital assets		10		17,703		103,800		-
Cash and cash equivalents				7,339		53,852		40,732
				449,719		603,383		317,474
TOTAL ASSETS				3,318,378		4,158,874		3,356,229
EQUITY AND LIABILITIES
SHAREHOLDERS' EQUITY
Called up share capital		12		124,779		87,258		100,495
Share premium		12		20,352,084		16,326,477		17,925,396
Share capital to be issued				-		816,703		1,016,703
FX translation reserve				51,436		44,831		45,608
Retained earnings				(19,199,677)		(16,085,122)		(17,629,811)
TOTAL EQUITY				1,328,622		1,190,147		1,458,391
NON-CURRENT LIABILITIES
Interest bearing loans and borrowings		13		-		223,020		-
Provision for liabilities				2,000		240,443		2,000
				2,000		463,463		2,000
CURRENT LIABILITIES
Trade and other payables				1,946,704		2,505,264		1,895,838
Interest bearing loans and borrowings		13		41,052		-		-
				1,987,756		2,505,264		1,895,838
TOTAL LIABILITIES				1,989,756		2,968,727		1,897,838
TOTAL EQUITY AND LIABILITIES				3,318,378		4,158,874		3,356,229

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHS ENDED 30 JUNE 2026

	Called up share capital	Share Premium	Share capital to be issued	FX trans. reserve	Retained Earnings	Total equity
	€	€	€	€	€	€
Balance at 1 January 2025	78,520	12,754,046	2,016,703	71,371	(13,969,870)	950,770
Changes in equity
Issue of share capital	7,291	2,373,878	-	-	-	2,381,169
Share capital to be issued	1,447	1,198,553	(1,200,000)	-	-	-
Total comprehensive income	-	-	-	(26,540)	(2,115,252)	(2,141,792)
Balance at 30 June 2025	87,258	16,326,477	816,703	44,831	(16,085,122)	1,190,147
Balance at 1 January 2026	100,495	17,925,396	1,016,703	45,608	(17,629,811)	1,458,391
Changes in equity
Issue of share capital	21,286	1,412,983	-	-	-	1,434,269
Share capital to be issued	2,998	1,013,705	(1,016,703)	-	-	-
Total comprehensive income	-	-	-	5,828	(1,569,866)	(1,564,038)
Balance at 30 June 2026	124,779	20,352,084	-	51,436	(19,199,677)	1,328,622

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE SIX MONTHS ENDED 30 JUNE 2026

				6 months to 30 June 2026 Unaudited		6 months to 30 June 2025 Unaudited		Year ended 31 December 2025 Audited
	Notes			€		€		€
Cash flows from operating activities
Cash generated/(absorbed) from operations		1		(1,259,378)		77,318		(2,475,581)
Interest paid				(3,528)		(20,953)		(22,834)
Finance cost paid				-		(48,350)		(48,350)
Tax (paid)/refund received				(21,948)		40,411		54,875
Net cash generated from/(used in) operating activities				(1,284,854)		48,426		(2,491,890)
Cash flows from investing activities
Purchase of intangible fixed assets				(179,980)		(3,479,067)		(3,901,396)
Proceeds from disposal of intangible fixed assets				-		3,246,831		3,698,854
Purchase of property, plant and equipment				-		(4,578)		(2,671)
Proceeds from disposal of property, plant and equipment				-		1,351		40,872
Purchase of digital assets				(569,162)		-		-
Proceeds from disposal of digital assets				557,551		-		-
Interest received				1,334		68		1,212
Net cash used in investing activities				(190,257)		(235,395)		(163,129)
Cash flows from financing activities
Loan advanced in the period				55,108		2,130,385		2,764,577
Loan repayments in period				(14,056)		(2,655,332)		(3,512,544)
Payment of lease liabilities				-		(1,304,274)		(41,148)
Amount introduced by directors				(39,431)		134,770		(263,339)
Proceeds from share issue				1,434,269		1,694,416		3,306,572
Received in advance of share issuance				-		-		200,000
Net cash (used in)/generated from financing activities				1,435,890		(35)		2,454,118
Increase/(decrease) in cash and cash equivalents				(39,221)		(187,004)		(200,901)
Cash and cash equivalents at beginning of period		2		40,732		267,396		267,396
Effect of foreign exchange rate changes				5,828		(26,540)		(25,763)
Cash and cash equivalents at end of period		2		7,339		53,852		40,732

NOTES TO THE STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED 30 JUNE 2026

1	RECONCILIATION OF LOSS FOR THE PERIOD TO CASH GENERATED FROM OPERATIONS
	Group		6 months to 30 June 2026 Unaudited		6 months to 30 June 2025 Unaudited		Year ended 31 December 2025 Audited
			€		€		€
	Loss for the period		(1,569,866)		(2,115,252)		(3,659,941)
	Income tax		-		-		111,566
	Depreciation and amortisation		349,602		324,806		839,423
	Provision		-		82,554		(155,887)
	Impairment of non-current assets (see note 4)		-		1,993,981		1,754,520
	Gain on derecognition of lease liability		-		-		(1,263,126)
	Net fair value gain on digital assets		(5,618)		-		-
	Finance costs		3,528		69,303		71,184
	Finance income		(1,334)		(68)		(1,212)
			(1,223,688)		355,324		(2,303,473)
	Decrease/(increase) in inventories		9,407		17,036		18,037
	Decrease/(increase) in trade and other receivables		(105,279)		(56,728)		271,909
	Increase/(decrease) in trade and other payables		60,182		(238,314)		(462,054)
	Cash generated/(absorbed) from operations		(1,259,378)		77,318		(2,475,581)

2	CASH AND CASH EQUIVALENTS
	The amounts disclosed on the Statements of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:
	Group		6 months to 30 June 2026 Unaudited		6 months to 30 June 2025 Unaudited		Year ended 31 December 2025 Audited
			€		€		€
	At end of period
	Cash and cash equivalents		7,339		53,852		40,732
	At beginning of period
	Cash and cash equivalents		40,732		267,396		267,396

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED 30 JUNE 2026

1           STATUTORY INFORMATION

This unaudited condensed consolidated interim financial information is for World Chess Plc ('the Company') and its subsidiary undertakings, (together the 'Group'). The Company is a public limited company incorporated and domiciled in England with registration number 10589323 and registered office Eastcastle House, 27/28 Eastcastle Street, London, W1W 8DH.

             The Company is listed on the Official List and its entire issued share capital was admitted for trading on the Main Market of the London Stock Exchange on 6 April 2023 with ticker symbol CHSS.

2           ACCOUNTING POLICIES

             Basis of preparation

             This unaudited condensed consolidated financial information which incorporate the financial information of the Company and its subsidiary undertakings, have been prepared in accordance with Accounting Standard IAS 34 'Interim Financial Reporting' as contained in UK-adopted International Accounting Standards and IFRIC interpretations and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS.

             The interim report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the annual report for the year ended 31 December 2025 which was approved by the Board of Directors on 20 April 2026 and any public announcements made by the Company during the interim reporting period.

             This financial information has been prepared under the historical cost convention and unless otherwise specified are presented in Euro which is the functional currency of the Group and rounded to the nearest €.

             Going concern

             This condensed consolidated interim financial information has been prepared on a going concern basis, which the Directors consider to be appropriate.

             At 30 June 2026 the Group had cash balances of €7,339 and digital assets of €17,703 (together €25,042 of liquid resources) and net current liabilities of €1,538,037. The Group continues to incur operating losses as it invests in the development and marketing of its digital platform.

             During the period, in January 2026, the Company raised €100,000 by way of subscription and, in February 2026, entered into binding subscription agreements with two existing shareholders, raising a further €1,334,269, with the 175.9 million new ordinary shares issued in March 2026. The Group also has access to a €6,000,000 loan facility from a substantial shareholder, which it draws only as required and under which no amounts were drawn at 30 June 2026 (see note 13). Subsequent to the reporting date, on 1 September 2026, the Company agreed an unsecured shareholder loan of €350,000, principally to fund the Group's application to ICANN for the .chess domain, planned marketing activity and general working capital.

             The Directors have prepared cash flow forecasts covering a period of at least 12 months from the date of approval of this condensed consolidated interim financial information. These forecasts take account of the shareholder loan received after the period end, the undrawn balance of the shareholder loan facility, the Group's expected operating cash flows and the cost actions available to the Directors.

             However, the forecasts also indicate that the Group remains dependent on successfully executing its growth plans and is likely to require additional funding during the forecast period. The timing and availability of such funding is not certain. These conditions represent a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern.

             The condensed consolidated interim financial information does not include the adjustments that would result if the Group were unable to continue as a going concern.

Risks and uncertainties

The Group's activities expose it to a variety of risks, including market risk (foreign currency and interest rate risk), credit risk and liquidity risk. These risks, and the Directors' approach to managing them, are described in detail in the 2025 Annual Report and Accounts, available on the Company's website at https://worldchess.com/investors.

The Board does not consider that the nature of these risks has changed materially during the six months ended 30 June 2026. However, as noted in the Going concern section above, execution of the Group's strategy is likely to require additional funding within the next 12 months, and the timing and availability of such funding represents an ongoing risk.

Digital assets

Digital assets comprise cryptocurrency held by the Group for treasury management purposes and to make and receive payments in the ordinary course of business, and not for trading or speculative purposes. Digital assets are measured at fair value through profit or loss, with fair value determined by reference to quoted prices in active markets. Changes in fair value are recognised in profit or loss in the period in which they arise. Digital assets expected to be realised within twelve months of the reporting date are presented within current assets. This basis is consistent with that applied in the Group's audited financial statements for the year ended 31 December 2025; further detail is given in note 10.

Re-presentation of comparative information

The comparative figures for the six months ended 30 June 2025 have been presented as restated to present the Berlin club venue as a discontinued operation, consistent with the presentation adopted in the Group's audited financial statements for the year ended 31 December 2025 (see note 8 of those financial statements). Crypto-assets previously presented within intangible assets have been reclassified and are presented separately as digital assets within current assets. Comparative financing cash flows for the six months ended 30 June 2025 have also been re-presented to exclude the non-cash conversion of convertible loan notes into equity, consistent with the presentation adopted in those audited financial statements. No prior period adjustments have been recognised in these interim results, and there is no effect on total assets, net assets, the loss reported for the comparative period or net cash flows.

3           REVENUE

	Revenue from contracts with customers
	Revenue by type		6 months to 30 June 2026 Unaudited		6 months to 30 June 2025 Unaudited		Year ended 31 December 2025 Audited
			€		€		€
	Continuing operations:
	Tournaments and World Chess TV		41,250		133,866		545,508
	WorldChess.com platform		538,851		408,829		863,751
	Merchandising		214,053		227,382		542,491
	Chess advisory services		61,600		38,083		77,683
	Total continuing operations		855,754		808,160		2,029,433
	Discontinued operations:
	Berlin club venue		-		265,069		232,682
	Total revenue		855,754		1,073,229		2,262,115

	By geographical area		6 months to 30 June 2026 Unaudited		6 months to 30 June 2025 Unaudited		Year ended 31 December 2025 Audited
			€		€		€
	United Kingdom		702,744		759,854		1,839,934
	United States of America		88,633		28,193		111,786
	Europe		64,377		20,113		77,713
			855,754		808,160		2,029,433

Revenue is reported by geographical area based on the location where the revenue is recognised in the Group's financial records, rather than the location of the customer.

Following the classification of the Berlin club venue as a discontinued operation, the comparative revenue analysis for the six months ended 30 June 2025 has been re-presented. Amounts previously reported within Clubs are now presented within discontinued operations, and revenue from chess advisory services, previously reported within Merchandising, is now shown as a separate category.

The geographical analysis has been re-presented on the same basis. Total revenue for the comparative period is unchanged.

4           DISCONTINUED OPERATIONS - BERLIN CLUB VENUE

			6 months to 30 June 2026 Unaudited		6 months to 30 June 2025 Unaudited		Year ended 31 December 2025 Audited
			€		€		€
	Revenue		-		265,069		232,682
	Cost of sales		-		(110,568)		(174,457)
	GROSS PROFIT		-		154,501		58,225
	Other operating income		-		153		2,531
	Administrative expenses		-		(1,160,476)		(874,461)
	OPERATING LOSS		-		(1,005,822)		(813,705)
	Finance costs		-		(48,516)		(49,328)
	LOSS BEFORE INCOME TAX		-		(1,054,338)		(863,033)
	Income tax		-		-		(111,374)
	LOSS FOR THE PERIOD FROM DISCONTINUED OPERATIONS		-		(1,054,338)		(974,407)

Comparative information has been updated to present the Berlin club as a discontinued operation.

The impairment charges, lease termination and other closure-related items arising on the closure of the Berlin club venue are set out in note 8 to the Group's audited financial statements for the year ended 31 December 2025. No further closure-related items have been recognised in the current period. The loss from discontinued operations for the six months ended 30 June 2025 exceeds that for the year ended 31 December 2025 because closure-related provisions and impairments recognised in the first half of 2025 were partly reversed in the second half, principally on derecognition of the lease liability and release of the dilapidations provision. Closure-related items for the year ended 31 December 2025 amounted to a net charge of €335,505, compared with €715,440 recognised in the six months ended 30 June 2025.

5           NET FINANCE COSTS

			6 months to 30 June 2026 Unaudited		6 months to 30 June 2025 Unaudited		Year ended 31 December 2025 Audited
			€		€		€
	Finance income:
	Loan interest receivable		1,334		68		1,212
	Finance costs:
	Other loan interest		(3,528)		(20,787)		(21,856)
			(2,194)		(20,719)		(20,644)

6           LOSS PER SHARE

             The basic earnings per share is calculated by dividing the loss attributable to owners of the parent company by the weighted average number of ordinary shares in issue during the period. In calculating diluted earnings per share, the weighted average number of ordinary shares in issue is adjusted to assume conversion of all dilutive potential ordinary shares. Potential ordinary shares are considered dilutive when their conversion would decrease earnings per share or increase the loss per share. For the six months ended 30 June 2026, the Company was loss-making. As such, the inclusion of potential ordinary shares would be anti-dilutive. Consequently, basic and diluted earnings per share are the same. The warrants granted after the period end (see note 15) are potential ordinary shares which may dilute earnings per share in future periods.

			6 months to 30 June 2026 Unaudited		6 months to 30 June 2025 Unaudited		Year ended 31 December 2025 Audited
	Loss attributable to the owners of the parent company €		(1,569,866)		(2,115,252)		(3,659,941)
	Weighted average number of shares in issue		997,523,794		713,222,527		779,553,696
	Basic and diluted earnings per share
	Continuing operations		(0.002)		(0.002)		(0.003)
	Discontinued operations		-		(0.001)		(0.002)
	Total		(0.002)		(0.003)		(0.005)

7           DIVIDENDS

             No dividend was recommended or paid for the period under review.

8           INTANGIBLE ASSETS

			Exclusive FIDE rights		Software Licence		Online Platform		Total
			€		€		€		€
	COST
	At 1 January 2026		331,588		115,000		5,101,463		5,548,051
	Additions		-		-		179,980		179,980
	At 30 June 2026		331,588		115,000		5,281,443		5,728,031
	AMORTISATION
	At 1 January 2026		221,058		102,000		2,195,387		2,518,445
	Amortisation for period		55,265		9,000		282,010		346,275
	At 30 June 2026		276,323		111,000		2,477,397		2,864,720
	NET BOOK VALUE
	At 30 June 2026		55,265		4,000		2,804,046		2,863,311
	At 31 December 2025		110,530		13,000		2,906,076		3,030,080

             The Directors considered the carrying value at 30 June 2026 for each asset identified above and it was determined that no impairment was required. Where an asset does not generate cash inflows that are largely independent of the cash inflows from other assets or groups of assets the carrying value was considered against the smallest identifiable group of assets that generates cash inflows (cash generating unit or CGU).

             The net book value at 31 December 2025 of €3,030,080 includes €474 of crypto-assets, which were presented within intangible assets in the audited financial statements for the year ended 31 December 2025. Crypto-assets are presented separately as digital assets in the statement of financial position at 30 June 2026 and 30 June 2025, and the balance held at 31 December 2025 has not been reclassified on the grounds of immateriality.

9           PROPERTY, PLANT AND EQUIPMENT

			Fixtures and fittings		Computer Equipment		Total
			€		€		€
	COST
	At 1 January 2026		78,953		1,698		80,651
	Additions		-		-		-
	At 30 June 2026		78,953		1,698		80,651
	DEPRECIATION
	At 1 January 2026		70,278		1,698		71,976
	Charge for period		3,327		-		3,327
	At 30 June 2026		73,605		1,698		75,303
	NET BOOK VALUE
	At 30 June 2026		5,348		-		5,348
	At 31 December 2025		8,675		-		8,675

10         DIGITAL ASSETS

Digital assets comprise cryptocurrency held by the Group for treasury management purposes and to make and receive payments in the ordinary course of business, and not for trading or speculation. They are measured at fair value through profit or loss, as set out in note 2.

During the six months ended 30 June 2026 the Group acquired digital assets of €569,162 and disposed of digital assets with a carrying value of €557,551, recognising a net fair value gain of €5,618 in profit or loss. The carrying value at 30 June 2026 was €17,703 (30 June 2025: €103,800; 31 December 2025: €474). The gross movements in the period reflect the Group's use of cryptocurrency across both its operating and financing activities.

At 31 December 2025 digital assets with a carrying value of €474 were presented within intangible assets. The comparative at 30 June 2025 has been reclassified from intangible assets to current assets, as described in note 2. There is no effect on total assets, net assets or the loss reported for any period presented.

11         INVESTMENTS

             Investments in group undertakings are carried at €1,616 (30 June 2025: €301,616; 31 December 2025: €1,616), stated after cumulative impairment of €350,000. The Directors considered the carrying value at 30 June 2026 for each group undertaking, identified below, and it was determined that no further impairment was required.

	Subsidiary Name	% holding	Registered Office	Nature of business
	World Chess Events Limited	100	Eastcastle House, 27/28 Eastcastle Street, United Kingdom, W1W 8DH	Organising chess events (Worldwide)
	World Chess US, Inc	100	1201 N. Orange Street, Suite 762, Wilmington, New Castle County, DE, USA 19801	Organising chess events (USA), online chess
	World Chess Europe GmbH	100	Mittelstrasse 51 - 53, 10117 Berlin, Deutschland	Various chess related activities
	World Chess Sakartvelo LLC	100	Georgia, City Tbilisi, Didube district, Ak. Tsereteli Avenue, N 49-51-51a, Entrance 3, Floor 13, Apartment N 128	Organising chess events, chess club activities

12         CALLED UP SHARE CAPITAL

			30 June 2026 Unaudited				31 December 2025 Audited
			Number of shares		€		Number of shares		€
	Allotted, issued, and fully paid Ordinary shares of £0.0001		1,089,806,579		124,779		879,605,147		100,495

			Number of shares		Nominal value		Share capital (€)		Share Premium (€)
	At 31 December 2025		879,605,147		£0.0001		100,495		17,925,396
	At 30 June 2026		1,089,806,579		£0.0001		124,779		20,352,084

During the six months ended 30 June 2026, ordinary shares were issued in satisfaction of €1,016,703 previously recognised as share capital to be issued.

During the six months ended 30 June 2025, €653,576 of convertible loan notes were converted into equity and 717,948 ordinary shares were issued to a senior consultant in settlement of fees of €33,177. These transactions did not result in a cash flow and have therefore been excluded from the statements of cash flows.

13         FINANCIAL LIABILITIES

		Group
			30 June 2026 Unaudited		30 June 2025 Unaudited		31 December 2025 Audited
			€		€		€
	Current:
	Interest-bearing loans and borrowings		41,052		-		-
	Non-current:
	Interest-bearing loans and borrowings		-		223,020		-
			41,052		223,020		-

Current interest-bearing loans and borrowings at 30 June 2026 comprise a short-term advance from the Group's payment services provider, drawn in February 2026 and repayable by set-off against future card settlement receipts. The advance is denominated in US dollars and bears interest, which is charged monthly and settled alongside the principal repayments. The balance is expected to be repaid within twelve months of the reporting date.

The Group also has available to it a €6,000,000 loan facility from a substantial shareholder, which bears interest at 12 per cent. per annum and is repayable on 31 December 2026. The €223,020 drawn under this facility at 30 June 2025 was repaid during the second half of that year, and no amounts were drawn under the facility at 30 June 2026 or at 31 December 2025.

14         RELATED PARTIES' DISCLOSURES

Related party transactions during the six months ended 30 June 2026 were consistent in nature with those disclosed in the Group's annual report for the year ended 31 December 2025 which was approved by the Board of Directors on 20 April 2026.

At 30 June 2026, the following balances were (payable to)/receivable from the Group and its directors:

			30 June 2026 Unaudited		30 June 2025 Unaudited		31 December 2025 Audited
			€		€		€
	Ilya Merenzon		42,536		(312,686)		12,421
	Matvey Shekhovtsov		(21,260)		(16,800)		(14,400)
	Jamison Reed Firestone		(4,698)		(4,698)		(6,879)
	Richard Collett		(14,673)		(14,673)		(20,510)
	Neil Rafferty*		-		(3,752)		(8,158)

             *Neil Rafferty resigned on 11 May 2026.

             All balances are unsecured, interest-free, and repayable on demand. The balance with Ilya Merenzon is stated net of amounts due to and from Group entities, a right of set-off existing between them.

             In addition balances owed by Group undertakings to the Company totalled €7,620,973 (31 December 2025: €7,425,069).

15         SUBSEQUENT EVENTS

On 1 September 2026, the Company announced that, through a wholly owned subsidiary and in cooperation with FIDE, it had applied to ICANN for the .chess generic top-level domain. If successful, the Group would operate and manage the domain extension on behalf of FIDE, with the objective of creating trusted digital identifiers for federations, clubs, tournaments, titled players and other participants in the global chess ecosystem. The application is subject to ICANN's evaluation process and there can be no certainty that it will succeed.

On the same date, the Company announced an unsecured loan of €350,000 from an existing shareholder, drawn down after the period end, principally to fund the domain application, planned marketing activity and general working capital. The loan bears interest at 4 per cent. per annum, increasing to 17 per cent. if not repaid at maturity, and is repayable one year from drawdown, with the Company entitled to prepay without penalty. In consideration for the loan the Company granted the lender warrants to subscribe for 16,347,099 new ordinary shares of £0.0001 each at an exercise price of 0.325 pence per share, representing approximately 1.5 per cent. of the Company's issued share capital. No shares have been issued under the warrants.

16         OTHER

             Copies of the unaudited half-yearly results have not been sent to shareholders, however copies are available at https://worldchess.com/investors or on request from the Company's Registered Office.

17         APPROVAL OF UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Responsibility Statement

The Company's Directors, whose names and functions appear below this statement, are responsible for preparing this unaudited interim condensed consolidated financial information in accordance with the Disclosure Guidance and Transparency Rules of the United Kingdom's Financial Conduct Authority ('DTR') and with Accounting Standard IAS 34 'Interim Financial Reporting'.

The Directors, and each Director individually, confirm that, to the best of their knowledge, this unaudited condensed consolidated financial information gives a true and fair view of the assets, liabilities, financial position and profit or loss of the Group and that the interim management report includes a fair review of the information required by DTR4.2.7R (indication of important events during the first six months and description of principal risks and uncertainties for the remaining six months of the year) and by DTR4.2.8R (disclosure of material related parties' transactions).

Board of Directors:

Ilya Merenzon (Chief Executive Officer)

Matvey Shekhovtsov (Chief Operating Officer)

Richard Collett (Chief Financial Officer)

Jamison Reed Firestone (Interim Chair and Non-Executive Director)

This unaudited condensed consolidated financial information was approved by the Board on 29 September 2026.

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