Slide 1: Year-end Report January – December 2025
Year-end Report January – December 2025 5th February 2026 CEO, Martin Carlesund CFO, Joakim Andersson
Slide 2: Highlights Year-End Report 2025
Highlights Year-End Report 2025 Fourth quarter of 2025 (Q4 2024) January-December 2025 (FY 2024) • Net revenues decreased by 3.7% to EUR 514.2 • Net revenues increased 0.2% to EUR 2,066.5 million million (533.8) (2,063.1) • Live growth -4.5% to EUR 438.6 million (459.4) • Live growth -0.2% to EUR 1,
Slide 3: Quarterly Operational KPIs
Quarterly Operational KPIs Headcount end of period Game Rounds index – all games 25 000 500 22 475 450 22 223 22 248 21 652 386 21 141 21 252 400 376 376 20 772 369 20 537 357 355 350 339 350 20 000 19 221 301 17 823 300 275 277 17 331 17 447 254 250 200 15 000 150 100 50 10 000 0 23Q1 23Q2 23Q3 23Q
Slide 4: Annual Operational KPIs
Annual Operational KPIs Top 5 Customer Dependency (%) Number of tables at year end (#, “00”) 50 2500 46 45 41 39 2000 40 38 2000 35 33 1700 32 1600 30 30 27 1500 1300 25 22 1000 20 1000 15 700 700 550 10 400 500 5 0 0 2017 2018 2019 2020 2021 2022 2023 2024 2025 2017 2018 2019 2020 2021 2022 2023 20
Slide 5: Customer & Player IP split by Region
Customer & Player IP split by Region Net revenues by Customers’ location Net revenues by Customers’ players’ IP addresses Regulated vs Unregulated by Customers’ players’ IP (Q4 2025, %) (Q4 2025, %) addresses 2% 46% 47% 50% 44% 45% 44% 42% 42% 41% 45% 4% 39% 39% 39% 40% 39% 39% 39% 10% 8% 40% 35% 35
Slide 6: Regional Update – Europe & Asia
Regional Update – Europe & Asia Net revenues by Customers’ players’ IP addresses . The IP address provides an approximation of the location of the operators’ customers at time of playing. Europe Asia 205,0 201,8 240,0 200,0 194,9 220,0 209,1 195,0 197,6 200,7 202,2 202,2 201,9 191,0 191,3 193,6 189,
Slide 7: Regional Update – North & Latin America
Regional Update – North & Latin America Net revenues by Customers’ players’ IP addresses . The IP address provides an approximation of the location of the operators’ customers at time of playing. North America Latin America 85,0 45,0 43,2 80,0 77,1 43,0 74,0 74,2 41,0 39,8 75,0 71,5 38,5 70,6 39,0 3
Slide 8: Studio Update – 24 Studios in 16 jurisdictions
Studio Update – 24 Studios in 16 jurisdictions Comments • 24 Studios located in 16 jurisdictions by end of 2025 • In 2025, 4 new Studios were launched • New Studios in Brazil, Philippines, Romania & New Jersey 24 20 18 15 11 9 6 7 2 3 1 2006 2013 2014 2018 2019 2020 2021 2022 2023 2024 2025 8
Slide 9: MONOPOLY game imagery
MONOPOLY TM, ® & © 1935, 2026 Hasbro MONOPOLY TM, ® & © 1935, 2026 Hasbro ©2026 Hasbro. All Rights Reserved
Slide 10: Financial development
Financial development 70,7% 70,4% 70,9% 69,3% 69,0% 69,9% 69,0% 68,6% 68,0% 68,5% 68,1% 65,6% 65,9% 66,4% 66,4% 533,8 524,3 519,4 520,9 514,2 501,5 508,4 507,1 475,3 441,1 452,6 429,6 407,5 378,5 355,6 363,6 344,0 337,0 345,8 345,8 342,0 345,3 336,9 341,5 311,7 318,6 300,2 279,5 261,0 238,2 22Q2 22Q
Slide 11: Profit & Loss
Profit & Loss P&L Statement Oct-Dec Oct-Dec Jan-Dec Jan-dec Comments Group, EUR thousands 2025 2024 2025 2024 Revenues - Live 431,666 446,878 1,334,026 1,316,287 • Net revenues of EUR 514.2m corresponding to a negative growth of 3.7% Revenues - RNG 75,457 72,501 218,310 212,953 YoY but positive 1.4%
Slide 12: Cash Flow
Cash Flow Operating cash flow Capital expenditure 100% 50 8% 350 90% 45 7% 300 80% 40 6% 250 70% 35 60% 30 5% 200 50% 25 4% 150 40% 20 3% 100 30% 15 2% 20% 10 50 10% 5 1% 0 0% 0 0% 22Q1 23Q1 22Q2 22Q2 22Q3 22Q4 23Q2 23Q3 23Q4 24Q1 24Q2 24Q3 24Q4 25Q1 25Q2 25Q3 25Q4 22Q1 22Q3 22Q4 23Q1 23Q2 23Q3 23Q4
Slide 13: Financial Position
Financial Position Balance Sheet Summary EURm 31/12/2025 31/12/2024 Comments Goodwill 2,370.2 2,276.5 • Strong financial position remains Other non-current assets 972.0 963.5 Bond portfolio 104.1 100.8 • Total of EUR 922.0m of cash and bond portfolio Total non-current assets 3,446.2 3,340.9 • Total
Slide 14: Shareholder Remuneration 2020-2025
Shareholder Remuneration 2020-2025 4000 > EUR 1bn 578 3 518 3500 3000 500 2500 400 564 2000 1500 400 426 1000 304 500 200 145 0 Dividend Re-purchase Dividend Dividend Re-purchase Dividend Re-purchase Re-purchase Dividend Total FY 2020 December 2021 FY 2021 FY 2022 November 2023 FY 2023 July 2024 Feb
Slide 15: Targets & Capital Allocation
Targets & Capital Allocation Targets 2026 • Growth: Long-term ambition is to grow at least in line with the market in our regions for both Live and RNG • Profitability: FY 2026 EBITDA Margin targeted to be in line with the outcome of FY 2025 • Games: In 2026 we expect to release 110+ new games Capit
Slide 16: Q&A
Q&A Follow this link to get a sneak peek of some of our 2026 Headliner Games! MONOPOLY TM, ® & © 1935, 2026 Hasbro