Slide 1: Investor Presentation Q4 2025
x Investor Presentation Q4 2025 2026/02/17
Slide 2: Q4 2025 Key Performance Figures
EG7 Q4 2025 INTERIM REPORT Q4 2025 Key Performance Figures NET REVENUE NET REV. DECLINE EXCL. FX ADJUSTED EBITDA ADJ. EBITDA MARGIN 437 MSEK - 4.4 % 80 MSEK 18.2% Main Highlights ▪ Daybreak: 11% Net Revenue growth y - o- y in local currency; Adj. EBITDA +26% to SEK 33.4mm ▪ Palia: 146% Net Revenue g
Slide 3: FY 2025 Key Performance Figures & Highlights
EG7 Q4 2025 INTERIM REPORT FY 2025 Key Performance Figures & Highlights NET REVENUE NET REV. DECLINE EXCL. FX ADJUSTED EBITDA ADJ. EBITDA MARGIN 1,626MSEK - 1.1% 254 MSEK 15.6% Key Achievements ▪ Daybreak: Live titles LOTRO, DDO & DCUO all back to demonstrating growth ▪ Palia: Platform expansion to
Slide 4: Performance Headwinds
EG7 Q4 2025 INTERIM REPORT Performance Headwinds FX Impact Cold Iron Net Revenue - 1.1% excl. FX vs. - 5.1% in SEK; significant Game release delayed; now targeting Q3 2026 adverse FX swing on reported figures MSM Piranha Games Lower user numbers through 2025; reduced organic Net Revenue - 45% y - o-
Slide 5: Looking Ahead
EG7 Q4 2025 INTERIM REPORT Looking Ahead Daybreak Momentum Palia Expansion Cold Iron Launch DCUO, LOTRO, DDO all demonstrated Second annual expansion on track for late New title targeted for Q3 2026; expected to growth in 2025 and began 2026 with strong spring to drive further growth contribute mean
Slide 6: Financial Discussion
Financial Discussion
Slide 7: Net Revenue and Adjusted EBITDA
EG7 Q4 2025 INTERIM REPORT Net Revenue and Adjusted EBITDA QUARTERLY LTM (MSEK) (MSEK) 600 100% 2 000 100% 1 787 1 813 513 90% 1 800 1 713 1 702 90% 500 1 626 455 80% 1 600 80% 437 70% 1 400 70% 400 379 355 60% 1 200 60% 300 50% 1 000 50% 40% 800 40% 200 30% 600 30% 129 25% 80 338 342 20% 326 303 74
Slide 8: More predictable part of Net Revenue
EG7 Q4 2025 INTERIM REPORT More predictable part of Net Revenue QUARTERLY LTM (MSEK) (MSEK) 600 100% 3000 90% 513 90% 80% 88% 78% 500 2500 74% 74% 455 79% 80% 73% 78% 71% 71% 70% 437 70% 70% 400 379 2000 60% 65% 355 1787 1813 346 60% 1713 1702 332 1673 1626 319 311 50% 297 300 50% 1500 1237 1247 126
Slide 9: Net Revenue & Adj. EBITDA – Daybreak & Big Blue Bubble
EG7 Q4 2025 INTERIM REPORT Q4 NET REVENUE CONTRIBUTION Daybreak 195 45% Net Revenue & Adj. EBITDA – Big Blue Bubble Rest of the group 55 187 13% 43% Daybreak & Big Blue Bubble Group Total 437 100% Q4 ADJ EBITDA CONTRIBUTION Daybreak 33 41% Big Blue Bubble 25 32% Rest of the group 22 28% Group Total
Slide 10: Net Revenue & Adj. EBITDA – Fireshine & Petrol
EG7 Q4 2025 INTERIM REPORT Q4 NET REVENUE CONTRIBUTION Net Revenue & Adj. EBITDA – Fireshine Petrol 126 27 29% 6% Fireshine & Petrol Rest of the group Group Total 284 437 100% 65% Q4 ADJ EBITDA CONTRIBUTION Fireshine 16 20% Petrol -4 -5% Rest of the group 68 85% Group Total 80 100% FIRESHINE PETROL
Slide 11: Net Revenue & Adj. EBITDA – Piranha
EG7 Q4 2025 INTERIM REPORT Q4 NET REVENUE CONTRIBUTION Piranha 34 8% Net Revenue & Adj. EBITDA – Rest of the group 403 92% Piranha Group Total 437 100% Q4 ADJ EBITDA CONTRIBUTION Piranha 11 14% Rest of the group 69 86% Group Total 80 100% PIRANHA (MSEK) 80 100% 70 70 90% 80% 60 70% 50 60% 55% 40 32
Slide 12: Net Cash Position
EG7 Q4 2025 INTERIM REPORT Net Cash Position (MSEK) Cash Flow Q4 YTD 700 Cash OB 396 322 600 579 Operation* 74 120 500 Investing** - 61 - 310 455 396 390 400 Financing*** - 15 295 322 Delta Cash -2 105 300 200 Currency fluctuations in -4 - 37 liquidity 100 Cash CB 390 390 0 -100 - 61 - 79 - 78 - 97
Slide 13: Significant Events After the Reporting Period
EG7 Q4 2025 INTERIM REPORT Significant Events After the Reporting Period In early 2026, the board took several initiatives to improve transparency and lay the foundation for strong value creation. Strategic Review Comprehensive evaluation of the group’s portfolio and strategic direction Accelerated
Slide 14: Summary
Summary
Slide 15: Key Takeaways
EG7 Q4 2025 INTERIM REPORT Key Takeaways 1 Positive signals in core franchises Palia (+146% y - o- y), Daybreak live titles, and Big Blue Bubble showed encouraging momentum into year - end, providing a foundation for continued progress in 2026. 2 Key launches set to shape 2026 Q3 release target for
Slide 16: <z i.) So
<z i.) So