11 Bit Studios Sa · GPW:11B
11 Bit Studios Sa — Q1 2026 Earnings Presentation
13 slides from 11 Bit Studios Sa's earnings presentation, May 21, 2026
Slide 1: Presentation of Results for Q1 2026
PRESENTATION OF RESULTS FOR Q1 2026 Warsaw, 21 MAY 2026
Slide 2: We create unique & easily understandable games
we create unique & easily understandable games with a message and strong gameplay that wide groups of players will love to play games that are & will be market relevant games that are & will become hits this is 11 bit studios
Slide 3: Q1 2026 Products Highlights
Q1 2026 PRODUCTS HIGHLIGHTS SCALING OPERATIONS & EXPANDING THE PORTFOLIO Portfolio expansion DLC support Publishing success Successful release of Premiere of Breach of Project Crop exceeded Death Howl on consoles Trust (FP2 DLC 2) on June 100k Steam wishlists in 2 (PS5, Xbox, Switch) in 23, 2026. DL
Slide 4: Financial Results & Operational Summary Q1 2026
FINANCIAL RESULTS & OPERATIONAL SUMMARY Q1 2026
Slide 5: Revenue (PLNm)
REVENUE (PLNm) BALANCING STEADY BACK-CATALOG INCOME WITH STRONG NEW RELEASE 1Q 2026 1 Q 2025 % change REVENUE 19.8 17.5 13.1% TOTAL OPERATING EXPENSES INCL. (25.3) (21.0) 20.5% Depreciation (11.4) (4.6) 147.9% External services (8.6) (10.3) (16.5%) Staff costs (4.0) (4.6) (13.0%) OPERATING PROFIT (5
Slide 6: Revenue (PLNm) by title
REVENUE (PLNm) BALANCING STEADY BACK-CATALOG INCOME WITH STRONG NEW RELEASE Q1 2026 Q1 2025 Death Howl 4.1 - Frostpunk 2 3.2 4.8 The Alters 2.4 - Frostpunk 2.2 4.4 Moonlighter 2 1.7 - Others 6.2 8.3 TOTAL 19.8 17.5
Slide 7: Our Dev Team
OUR DEV TEAM FLUIDLY REDISTRIBUTE TALENT ACROSS SHIFTING PRODUCTION CYCLES MARCH 2026 52 48 27 11 5 1 27 The Alters Frostpunk 2 Frostpunk 1886 P12 P13 P14 Shared Services and XDEV The number of employees of a given project in the last month of the reporting period to which they devoted more than 50%
Slide 8: Internal Development
INTERNAL DEVELOPMENT BUILDING LONG TERM VALUE FROSTPUNK IP ▪ Frostpunk 2: long-term support for FP2 through 2 DLCs in 2026 (Breach of Trust is coming in 23 June 2026) ▪ Frostpunk 1886: advanced work on the reimagination on Unreal Engine 5 ▪ Project P13: exploration of a new genre within the universe
Slide 9: XDEV: Publishing
XDEV: PUBLISHING PROVING THE PUBLISHING STRATEGY WITH HIGH-POTENTIAL TITLES ▪ Death Howl: very positive reviews (94% Steam). Successful console expansion in February 2026 ▪ Moonlighter 2: end of Early Access phase and Full Release planned for H2 2026 ▪ Crop: recently revealed dark farming thriller.
Slide 10: Prospects for 2026
‘ PROSPECTS FOR 2026 7™
Slide 11: 2026: Investing in the Next Wave
2026: INVESTING IN THE NEXT WAVE A TRANSITION YEAR WITH FOCUS ON SCALING THE NEW PRODUCTION CYCLE Frostpunk 2 DLC 2 Breach of Trust: expansion of the core narrative and game world - June 2026 DLC 3: further planned expansion of the universe – End of 2026 Tthe Alters DLC: expanding story and gameplay
Slide 12: Release Schedule
RELEASE SCHEDULE DIVERSIFIED RELEASE PIPELINE ENABLING PREDICTABLE CASH FLOW GENERATION 2027/2028 2029/2030 Crop, unannounced XDEV, Project P12 (New IP) FP 1886 2026 2028/2029 2030/2031 Moonlighter 2 (Full), FP2 P13 (Frostpunk), P15 Project P14 (New IP) DLC 2/3, Alters DLC) (TWOM reimagined)
Slide 13: Thank You
THANK YOU … Want to amore? Contact us! monika.banasiak@11bitstudios.com