Now Available for Pre-Order, Hot Wheels: Rift Rally Blends Physical and Digital Play So Players Can Create Their Ultimate Hot Wheels Race Track Right at Home

TROY, N.Y. – February 7, 2023 – Velan Studios and Mattel, Inc. (NASDAQ: MAT) today announced Hot Wheels: Rift Rally, a new mixed reality racing experience coming to the App Store for iOS, PlayStation 4 and PlayStation 5 on March 14, 2023. Hot Wheels: Rift Rally combines the thrill of a AAA racing game with Velan’s patented RC mixed reality tech for a unique new Hot Wheels® experience that blends the real world with over-the-top digital environments. Pre-orders are available now at www.riftrally.com.

“Our mission at Velan has always been to create breakthrough games that feel magical to players,” said Karthik Bala, CEO, Velan Studios. “Our background combining digital and physical play taught us a lot about the mixed reality racing genre we invented, which we used to bring a transformational new experience to Hot Wheels: Rift Rally.”

Hot Wheels: Rift Rally puts players behind the wheel of their favorite Hot Wheels vehicles using the Chameleon RC car, which can digitally transform into more than 140 vehicle variations. This includes iconic Hot Wheels such as Twin Mill, Bone Shaker, Mach Speeder, Gotta Go, and more fan-favorites; as well as several Rift Rally original vehicles.

In Hot Wheels: Rift Rally, players have two ways to play. In Campaign mode, players set up Rift Gates to create the ultimate mixed reality track and explore different challenge maps where there are multiple challenges to complete and races to race. In Stunt mode, players drive and stunt the Chameleon without gates as they chain together drifts, wheelies, and burnouts to hit high scores and earn rewards.

“Velan Studios’ innovative game design and technology introduces a breakthrough play experience for Hot Wheels fans by transforming their home into the ultimate Hot Wheels track for their digital car collection,” said Mike DeLaet, Global Head of Digital Gaming, Mattel. “Hot Wheels: Rift Rally unlocks an exciting new kind of creative play for Hot Wheels fans by bridging physical and digital play in a way we’ve never seen before,” added Chris Down, Chief Design Officer, Mattel.

Hot Wheels: Rift Rally will launch on the App Store for iOS and PlayStation Store on March 14, 2023. Players can now pre-order the Standard Edition for $129.99 (SRP) or the Collector’s Edition for $149.99 (SRP) at www.riftrally.com and coming soon to GameStop. Included with purchase is the Chameleon RC car, four Rift Gates for track building, and a charging cable. Game software will be free to download. The Collector’s Edition includes a special edition Chameleon with black deco and gold accents and a limited edition McLaren Senna Hot Wheels die-cast car in a display case.

About Velan Studios:

Velan Studios was founded in 2016 by industry veterans Guha and Karthik Bala to create breakthrough games that are magic. In the past two years, Velan’s team of world class game makers have released Knockout City and Mario Kart Live: Home Circuit, two titles featuring revolutionary new gameplay experiences that exemplify Velan’s breakthrough technology and design. The studio is based in Troy, NY, the center of Upstate New York’s growing game development cluster. For more information about Velan, please visit https://www.velanstudios.com/.

About Mattel:

Mattel is a leading global toy company and owner of one of the strongest catalogs of children’s and family entertainment franchises in the world. We create innovative products and experiences that inspire, entertain, and develop children through play. We engage consumers through our portfolio of iconic brands, including Barbie®, Hot Wheels®, Fisher-Price®, American Girl®, Thomas & Friends, UNO®, Masters of the Universe®, Monster High, and MEGA®, as well as other popular intellectual properties that we own or license in partnership with global entertainment companies. Our offerings include film and television content, gaming, music, and live events. We operate in 35 locations and our products are available in more than 150 countries in collaboration with the world’s leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering children to explore the wonder of childhood and reach their full potential. Visit us online at mattel.com.

Now Available for Pre-Order, Hot Wheels: Rift Rally Blends Physical and Digital Play So Players Can Create Their Ultimate Hot Wheels Race Track Right at Home

TROY, N.Y. – February 7, 2023 – Velan Studios and Mattel, Inc. (NASDAQ: MAT) today announced Hot Wheels: Rift Rally, a new mixed reality racing experience coming to the App Store for iOS, PlayStation 4 and PlayStation 5 on March 14, 2023. Hot Wheels: Rift Rally combines the thrill of a AAA racing game with Velan’s patented RC mixed reality tech for a unique new Hot Wheels® experience that blends the real world with over-the-top digital environments. Pre-orders are available now at www.riftrally.com.

“Our mission at Velan has always been to create breakthrough games that feel magical to players,” said Karthik Bala, CEO, Velan Studios. “Our background combining digital and physical play taught us a lot about the mixed reality racing genre we invented, which we used to bring a transformational new experience to Hot Wheels: Rift Rally.”

Hot Wheels: Rift Rally puts players behind the wheel of their favorite Hot Wheels vehicles using the Chameleon RC car, which can digitally transform into more than 140 vehicle variations. This includes iconic Hot Wheels such as Twin Mill, Bone Shaker, Mach Speeder, Gotta Go, and more fan-favorites; as well as several Rift Rally original vehicles.

In Hot Wheels: Rift Rally, players have two ways to play. In Campaign mode, players set up Rift Gates to create the ultimate mixed reality track and explore different challenge maps where there are multiple challenges to complete and races to race. In Stunt mode, players drive and stunt the Chameleon without gates as they chain together drifts, wheelies, and burnouts to hit high scores and earn rewards.

“Velan Studios’ innovative game design and technology introduces a breakthrough play experience for Hot Wheels fans by transforming their home into the ultimate Hot Wheels track for their digital car collection,” said Mike DeLaet, Global Head of Digital Gaming, Mattel. “Hot Wheels: Rift Rally unlocks an exciting new kind of creative play for Hot Wheels fans by bridging physical and digital play in a way we’ve never seen before,” added Chris Down, Chief Design Officer, Mattel.

Hot Wheels: Rift Rally will launch on the App Store for iOS and PlayStation Store on March 14, 2023. Players can now pre-order the Standard Edition for $129.99 (SRP) or the Collector’s Edition for $149.99 (SRP) at www.riftrally.com and coming soon to GameStop. Included with purchase is the Chameleon RC car, four Rift Gates for track building, and a charging cable. Game software will be free to download. The Collector’s Edition includes a special edition Chameleon with black deco and gold accents and a limited edition McLaren Senna Hot Wheels die-cast car in a display case.

About Velan Studios:

Velan Studios was founded in 2016 by industry veterans Guha and Karthik Bala to create breakthrough games that are magic. In the past two years, Velan’s team of world class game makers have released Knockout City and Mario Kart Live: Home Circuit, two titles featuring revolutionary new gameplay experiences that exemplify Velan’s breakthrough technology and design. The studio is based in Troy, NY, the center of Upstate New York’s growing game development cluster. For more information about Velan, please visit https://www.velanstudios.com/.

About Mattel:

Mattel is a leading global toy company and owner of one of the strongest catalogs of children’s and family entertainment franchises in the world. We create innovative products and experiences that inspire, entertain, and develop children through play. We engage consumers through our portfolio of iconic brands, including Barbie®, Hot Wheels®, Fisher-Price®, American Girl®, Thomas & Friends, UNO®, Masters of the Universe®, Monster High, and MEGA®, as well as other popular intellectual properties that we own or license in partnership with global entertainment companies. Our offerings include film and television content, gaming, music, and live events. We operate in 35 locations and our products are available in more than 150 countries in collaboration with the world’s leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering children to explore the wonder of childhood and reach their full potential. Visit us online at mattel.com.