Slide 1: CD PROJEKT GROUP FY 2025 Earnings
CD PROJEKT GROUP FY 2025 Earnings 19 MARCH 2026 Michał Nowakowski | J O I N T C H I E F E X E C U T I V E O F F I C E R , M E M B E R O F T H E B O A R D Piotr Nielubowicz | C H I E F F I N A N C I A L O F F I C E R , M E M B E R O F T H E B O A R D Karolina Gnaś | V I C E P R E S I D E N T , I N V
Slide 2: CD PROJEKT sells its digital distribution business
CD PROJEKT sells its digital distribution business 2
Slide 3: 85 million copies of The Witcher trilogy sold
85 MILLION COPIES SOLD* OF THE WITCHER TRILOGY, INCLUDING: 60 MILLION COPIES SOLD* OF THE WITCHER 3: WILD HUNT *as of 28 May 2025 (copies of the game sold separately & in GOTY/Complete edition bundles) 3
Slide 4: Xbox
S) Xbox Geom _ Game Pass TCHER, “WILb HUNT
Slide 5: Recent activities in The Witcher franchise flywheel
Recent activities in The Witcher franchise flywheel 5
Slide 6: Cyberpunk 2077 copies sold
*as of 26 November 2025 - Cyberpunk 2077 *as of 28 May 2025 - Cyberpunk 2077: Phantom Liberty 6 (copies of the game sold separately & in the Ultimate Edition bundle) (copies of the expansion sold separately & in the Ultimate Edition bundle)
Slide 7: Driving player reach through new platforms and services
Driving player reach through new platforms and services 7
Slide 8: Driving player reach through new platforms and services
Driving player reach through new platforms and services 8
Slide 9: Recent activities in the Cyberpunk franchise flywheel
Recent activities in the Cyberpunk franchise flywheel 9
Slide 10: HADAR development update
Development update IP foundations set - shifting focus to the game HADAR 10
Slide 11: Development teams engaged in ongoing projects
Development teams engaged in ongoing projects No. of developers February 28, 2025 411 84 49 17 124 22 707 October 31, 2025 447 135 56 29 162 22 851 February 28, 2026 499 149 71 26 169 19 933 The Witcher 4 Cyberpunk 2 Sirius Hadar Shared Services* Other *e.g. Localization, Central Quality Assurance,
Slide 12: Financial Results of the CD PROJEKT Group
Financial Results OF THE CD PROJEKT GROUP 12
Slide 13: CD PROJEKT GROUP — profit and loss account
CD PROJEKT GROUP — profit and loss account CD PROJEKT GROUP 2025 vs. 2024 2025 vs. 2024 2024 2025 [PLN] [%] Sales revenue 798 372 866 989 68 617 9% Sales of products and services 790 697 827 311 36 614 5% – Cyberpunk IP 598 674 671 918 73 244 12% – Witcher IP 191 633 154 914 -36 719 -19% Sales of goo
Slide 14: Cyberpunk 2077 and Phantom Liberty sales by hardware platform
Cyberpunk 2077 and Phantom Liberty Sales revenue by hardware platform* 15% 13% v v 13% 10% 22% 9% 71% 12% 19% 26% 29% 13% 29% 25% 65% 62% 51% 58% 57% 2020 2021 2022 2023 2024 2025 PC PlayStation Xbox Nintendo Switch *For the years 2020-2022 only the sales of Cyberpunk 2077 are presented; for the yea
Slide 15: The Witcher 3: Wild Hunt sales by hardware platform
The Witcher 3: Wild Hunt Sales revenue by hardware platform* 23% v 44% 16% 28% 19% 23% 42% 18% 9% 21% 11% 25% 11% 33% 26% 12% 16% 39% 18% 12% 8% 10% 24% 25% 35% 20% 10% 42% 34% 38% 25% 43% 48% 36% 37% 41% 42% 38% 43% 55% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 PC PlayStation Xbox Nint
Slide 16: CD PROJEKT GROUP — profit and loss account
CD PROJEKT GROUP — profit and loss account CD PROJEKT GROUP 2025 vs. 2024 2025 vs. 2024 2024 2025 [PLN] [%] Sales revenue 798 372 866 989 68 617 9% Sales of products and services 790 697 827 311 36 614 5% – Cyberpunk IP 598 674 671 918 73 244 12% – Witcher IP 191 633 154 914 -36 719 -19% Sales of goo
Slide 17: CD PROJEKT RED revenues, net profit vs. costs and expenses
CD PROJEKT RED Revenues - net profit vs. costs and expenses 60% 45% 55% 60% 44% 47% 34% 48% 17 All figures in PLN thousands
Slide 18: CD PROJEKT GROUP – assets
CD PROJEKT GROUP – assets Assets 31.12.2024 31.12.2025 change change % Non-current assets 1 574 164 2 168 647 594 483 38% Expenditure on development projects 695 421 1 148 143 452 722 65% – New development during 2025 512 392 – Amortization during 2025 57 348 Other financial assets * 292 137 371 566
Slide 19: CD PROJEKT GROUP – equity and liabilities
CD PROJEKT GROUP – equity and liabilities Equity and liabilities 31.12.2024 31.12.2025 change change % Equity 2 774 059 3 289 859 515 800 19% Liabilities 252 379 213 461 -38 918 -15% Liabilities 142 692 85 432 -57 260 -40% Deferred income 16 840 17 746 906 5% Provisions 92 847 110 283 17 436 19% Tot
Slide 20: CD PROJEKT RED research, development & product maintenance costs
CD PROJEKT RED Research, development & product maintenance costs 180 000 160 000 140 000 120 000 100 000 80 000 60 000 40 000 20 000 0 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Cost of product maintenance - released products (P&L - Selling costs) Research works costs - new proj
Slide 21: Main changes in cash, deposits & bonds
CD PROJEKT GROUP Main changes in cash, deposits & bonds 2 500 000 111 864 -124 857 520 869 3 785 -513 241 2 000 000 511 661 1 500 000 -99 911 -22 424 -23 209 1 000 000 1 472 034 Total cash from “ongoing business”: +511 661k PLN Total decrease (including development expenses, dividend, share buy-back
Slide 22: CD PROJEKT GROUP – Incentive Program B
CD PROJEKT GROUP – Incentive Program B Earnings conditions Consolidated net profit from continuing operations, adjusted by costs of Incentive Program B booked for a given stage 5 000 000 4 000 000 3 000 000 87% 2 000 000 67% remaining 26% remaining remaining 1 000 000 0 2023-2026 2024-2027 2025-2028
Slide 23: Thank you
Thank you ir@cdprojekt.com karolina.gnas@cdprojekt.com 23
Slide 24: Legal Disclaimer
Legal Disclaimer This presentation was created by CD PROJEKT S.A. (“CD PROJEKT”). Data contained in this presentation is valid as of the day of its preparation. Consequently, this presentation will not be subject to changes, updates or modifications to account for events which might occur after this