Embracer Group Ab Class B · OMXSTO:EMBRAC_B
Embracer Group Ab Class B — Shareholder Meeting (September 2026)
45 slides from Embracer Group Ab Class B's shareholder meeting presentation, Sep 24, 2026
Slide 1: AGM 2026
AGM 2026 KARLSTAD, 24 SEPTEMBER
Slide 2: Lars Wingefors, Chair of the Board
LARS WINGEFORS Chair of the Board 2
Slide 3: Welcome to Embracer Group's Annual General Meeting
Welcome to Embracer Group’s Annual General Meeting
Slide 4: Agenda Part 1
1. Opening of the meeting 2. Election of chair of the meeting 3. Preparation and approval of voting list AGM 4. Election of one or two persons to certify the minutes AGENDA 5. Question whether the general meeting has been duly convened PART 1 6. Approval of the agenda 7. Presentation of the business
Slide 5: Ten Years Ago
EMBRACER* GROUP yaad a“ NORTH | f WELCOMES "THO NORDIC TrHQNORDIC 3 TEN YEARS AGO 22 NOVEMBER 2016
Slide 6: The way we have created value has changed along the way
THE WAY WE HAVE CREATED VALUE, HAS CHANGED ALONG THE WAY 6
Slide 7: From one company to three listed companies
/ FROM ONE COMPANY TO THREE LISTED COMPANIES 2016 10 YEARS LATER 7
Slide 8: From one company to soon four listed companies
/ FROM ONE COMPANY TO SOON FOUR LISTED COMPANIES 2016 10 YEARS LATER Fellowship Entertainment 8
Slide 9: Ten years ago today
EMBRACER* GROUP TEN YEARS AGO MANY OPPORTUNITIES LOOKED INTERESTING TODAY FAR FEWER PASS THE TEST
Slide 10: There is still plenty to do
THERE IS STILL PLENTY TO DO 10
Slide 11: Transmedia
BOOK GAME TRANSMEDIA GAME FILM TV SERIES DIGITAL WORLD PHYSICAL EXPERIENCES TRAVEL 11
Slide 12: A great world can have many doors into it
A GREAT WORLD CAN HAVE MANY DOORS INTO IT © & TM Mee under lic. to Rings Scenic Tours and Wingnut Film Productions 12
Slide 13: And then there is AI
EMBRACER® GROUP AND THEN THERE IS Al 13
Slide 14: What opportunities have we not thought of yet?
WHAT OPPORTUNITIES HAVE WE NOT THOUGHT OF YET? 14
Slide 15: Embracer & Fellowship
EMBRACER & FELLOWSHIP Magic The Gathering: Tales of Middle-earth, © & TM Mee under lic. to Wizards of the Coast 15
Slide 16: Next ten years
NEXT TEN YEARS 16
Slide 17: Stay tuned
EMBRACER* GROUP STAY TUNED 17
Slide 18: Presentation of the business activities in the Embracer Group
PART 1 7 / Presentation of the business activities in the Embracer Group 18
Slide 19: Phil Rogers and Müge Bouillon
PHIL ROGERS MÜGE BOUILLON Group CEO Deputy CEO and Group CFO
Slide 20: What you should expect from us next
/ WHAT YOU SHOULD EXPECT FROM US NEXT 1 2 3 PROOF THAT CONTINUED VALUE CREATION WE ARE TRULY UNDERLYING THROUGH FOCUS & BEING BUILT IMPROVEMENTS GROWTH DIFFERENT 20
Slide 21: Operational & Financial Highlights FY 2025/26
ANNUAL OPERATIONS OVERVIEW | AGM 2026 Operational & Financial Highlights FY 2025/26 FULL YEAR | SEKm NET S A L E S ADJUSTED EBIT FREE CASH FLOW 15,906 m 1 905 m 1 50 m -25% YoY (-3% organic) (2,793 m) (745 m) (or 1,980m excl. divested assets) New segments introduced: Strong performance from Successf
Slide 22: Continued underlying improvements
CONTINUED UNDERLYING IMPROVEMENTS 22
Slide 23: Net sales and Margins
FINANCIAL OVERVIEW FY 2025/26 | AGM 2026 Net sales and Margins Comments SEKm Net sales decreased by - 27,409 25% YoY to SEK 15.9 billion, with organic growth of -3% 21,314 18% No major releases within the year impacting both 15,906 sales volume and 13% margins 10% Softer Adjusted EBIT 6% margi
Slide 24: Balance sheet
FINANCIAL OVERVIEW FY 2025/26 | AGM 2026 Balance sheet / Breakdown | Operational items per 31-03-26 | SEKbn Completed Ongoing game Other intangible Other non-current Other current games development projects assets assets assets 26.8bn 26.8bn A 1.5 4.3 0.3 3.1 4.1 13.4bn 4.1 Other current 4.7 Other c
Slide 25: Cash flow and Net debt bridge
FINANCIAL OVERVIEW FY 2025/26 | AGM 2026 Cash flow and Net debt bridge Comments FY 2025/26 | SEKm Maintained strong net 3,046 cash position after key strategic and corporate actions completed in FY M&A and financial cash flow -1,685 m 2025/26 5,434 7 -3,003 Estimated earn-out 105 -500 obligation
Slide 26: Underlying improvements in early FY 2026/27
ANNUAL OPERATIONS OVERVIEW | AGM 2026 Underlying improvements in early FY 2026/27 Q1 FY 2026/27 | SEKm ORGANIC GROWTH CASH EBIT GROWTH FREE CASH FLOW GROWTH 33% YoY 1 +146 m YoY 1 +386 m YoY “FOR Q2, WE EXPECT YEAR-ON-YEAR CASH EBIT IMPROVEMENT IN A SIMILAR PATTERN TO Q1” Source: as of June 30, 2026
Slide 27: Value creation through focus & growth
VALUE CREATION THROUGH FOCUS & GROWTH 27
Slide 28: Spin-off rationale
/ SPIN-OFF RATIONALE Increase management focus to capture the full potential of the valuable or strategic assets and IPs within the group. Enables Fellowship Entertainment to accelerate the formation of a group of world-class studios with leading publishing and licensing capabilities. Provides Embra
Slide 29: Fellowship Entertainment
/ FELLOWSHIP ENTERTAINMENT BUILT AROUND EXTRAORDINARY WORLDS AND THE STUDIOS THAT BRING THEM TO LIFE 29
Slide 30: Embracer: decentralized ecosystem of entrepreneurial businesses
/ EMBRACER DECENTRALIZED ECOSYSTEM OF ENTREPRENEURIAL BUSINESSES ACROSS GAMES AND ENTERTAINMENT 30
Slide 31: The #1 global entertainment sector - and growing
/ THE #1 GLOBAL ENTERTAINMENT SECTOR - AND GROWING HIGHEST OVERALL PC AND MOBILE A USD 200+ BILLION MARKET GROWTH GROWING MARKET IN 20251 SINCE THE PANDEMIC DOUBLE-DIGIT (+9% YoY1 in 2025) (+11% YoY1 in 2025) Source: as of 24 September 2026 | 1 Newzoo 31
Slide 32: Built different
EMBRACER* GROUP BUILT DIFFERENT 32
Slide 33: Built around stronger franchises and richer worlds
/ BUILT AROUND STRONGER FRANCHISES AND RICHER WORLDS 17m FRANCHISE UNITS SOLD 2017 2018 2019 2024 2025 2026 2027 30 AWARDS 3 FAN FESTS 76 89 15+ LIVE CONCERTS IN 2026 metacritic score 33
Slide 34: Publishing with reach and purpose
/ PUBLISHING WITH REACH AND PURPOSE 18m METRO EXODUS UNITS SOLD 1.2m WISHLISTS IN TWO WEEKS 80+ METACRITIC 2010 2013 2014 2019 2021 81 82 84 82 85 Illustrative model metacritic score 34
Slide 35: Evolution of game-making tools
/ EVOLUTION OF GAME-MAKING TOOLS 1990’s 1990’s – 2000’s 2000’s 2000’s – 2010’s 2010’s 2010’s – 2020’s TODAY Specialist chips Game engines Motion capture Digital creation Procedural Real-time AI-assisted & early 3D & middleware tools technology production creation New chips Quake, Unreal Real actors’
Slide 36: From now to the next AGM
EMBRACER* GROUP FROM NOW T0 THE NEXT AGM 36
Slide 37: Underlying improvement continues
1 2 3 UNDERLYING FOCUS BUILT IMPROVEMENT TURNS INTO DIFFERENT CONTINUES GROWTH 37
Slide 38: Now it is time to build on our momentum
NOW IT IS TIME TO BUILD ON OUR MOMENTUM 38
Slide 39: Q&A hosted by Jacob Edler, Danske Bank
Q&A hosted by Jacob Edler, equity analyst from Danske Bank 39
Slide 40: Agenda Part 2
8. Presentation of the annual report and the auditors’ report and the group annual report and the group auditor’s report 9. Resolutions regarding: i. adoption of income statement and balance sheet and the group income statement and the group balance sheet, ii. decision regarding the profit or loss o
Slide 41: Proposed for re-election
AGM 2026 Proposed for re-election CHAIR OF THE BOARD DEPUTY CHAIR OF THE BOARD LARS WINGEFORS KICKI WALLJE-LUND Born: 1977 Born: 1953 Education/background: Lars Wingefors is founder and former CEO of Embracer Education/background: Kicki Wallje-Lund has experience in business Group. Lars Wingefors st
Slide 42: Proposed for re-election
AGM 2026 Proposed for re-election BOARD MEMBER BOARD MEMBER JACOB JONMYREN YASMINA BRIHI Born: 1980 Born: 1975 Education/background: Jacob Jonmyren holds a M.Sc in Accounting and Education/background: Yasmina Brihi holds an MBA from Harvard Business Financial Management from Stockholm School of Econ
Slide 43: Proposed for re-election
AGM 2026 Proposed for re-election BOARD MEMBER BOARD MEMBER CECILIA QVIST BRIAN WARD Born: 1972 Born: 1957 Education/background: Cecilia Qvist holds an MBA from the University of Education/background: Brian is the Founding CEO of Savvy Games Group, the Edinburgh and has more than 25 years of interna
Slide 44: Thank you
Thank you
Slide 45: Embracer Group
EMBRACER* GROUP
Embracer Group — Shareholder Meeting (September 2026) on 6ix