Cd Projekt S.a. · GPW:CDR
Cd Projekt — Q1 2026 Earnings Presentation
16 slides from Cd Projekt's earnings presentation, May 28, 2026
Slide 1: CD PROJEKT GROUP Q1 2026 Earnings
CD PROJEKT GROUP Q1 2026 Earnings 28 MAY 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 E
Slide 2: The Witcher 3: Wild Hunt – Songs of the Past
THE WITCHER WILb\ {HUNT " SONGS oF 1H PAST COMING
Slide 3: The Witcher 3: Wild Hunt copies sold
THE WITTHER WILD\I(HUNT \W COPIES SOLD
Slide 4: Expanding player reach to grow our franchises
Expanding player reach to grow our franchises 4
Slide 5: New update for Cyberpunk 2077 to deliver cutting-edge experience
New update for Cyberpunk 2077 to deliver cutting-edge experience 5 5
Slide 6: Record-breaking TCG campaign underscoring Cyberpunk's IP strength
Record-breaking TCG campaign underscoring Cyberpunk’s IP strength 6
Slide 7: Development teams engaged in ongoing projects
Development teams engaged in ongoing projects No. of developers February 28, 2026 499 149 71 26 169 19 933 April 30, 2026 513 163 83 24 173 19 975 The Witcher 4 Cyberpunk 2 Sirius Hadar Shared Services* Other *e.g. Localization, Central Quality Assurance, Data, Insights & Experiences, Motion Capture
Slide 8: Financial Results
Financial Results OF THE CD PROJEKT GROUP 8
Slide 9: CD PROJEKT GROUP — profit and loss account
CD PROJEKT GROUP — profit and loss account CD PROJEKT GROUP Q1 2026 vs. Q1 2026 vs. Q1 2025* Q1 2026 Q1 2025 [PLN] Q1 2025 [%] Sales revenue 180 091 191 107 11 016 6% Sales of products 178 069 184 935 6 866 4% – Cyberpunk IP 145 196 140 113 -5 083 -4% – Witcher IP 32 852 44 723 11 871 36% Sales of go
Slide 10: CD PROJEKT GROUP – assets
CD PROJEKT GROUP – assets Assets 31.12.2025 31.03.2026 change change % Non-current assets 2 168 647 2 466 808 298 161 14% Expenditure on development projects 1 148 143 1 317 610 169 467 15% – New development during Q1 2026 179 783 – Amortization during Q1 2026 10 316 Other financial assets * 371 566
Slide 11: CD PROJEKT GROUP – equity and liabilities
CD PROJEKT GROUP – equity and liabilities Equity and liabilities 31.12.2025 31.03.2026 change change % Equity 3 289 859 3 412 725 122 866 4% Liabilities 213 461 230 692 17 231 8% Liabilities 85 432 88 965 3 533 4% Deferred income 17 746 23 583 5 837 33% Provisions 110 283 118 144 7 861 7% Total liab
Slide 12: Research, development & product maintenance costs
CD PROJEKT RED Research, development & product maintenance costs 200 000 180 000 160 000 140 000 120 000 100 000 80 000 60 000 40 000 20 000 0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Cost of product maintenance - released products (P&L - Selling costs) Research works costs - new projects (P&L - G&A
Slide 13: Main changes in cash, deposits & bonds
CD PROJEKT GROUP Main changes in cash, deposits & bonds 1 500 000 23 658 -149 743 27 141 -42 553 33 594 1 450 000 106 200 87 390 1 400 000 148 040 1 350 000 1 300 000 1 410 597 Total cash from “ongoing business”: +148 040k PLN 1 324 910 Total increase (including development expenses): +85 687k PLN 1
Slide 14: CD PROJEKT GROUP – Incentive Program B
CD PROJEKT GROUP – Incentive Program B Earnings condition for the years 2023-2026 Consolidated net profit from continuing operations, adjusted by costs of Incentive Program B 21% remaining 0 500 000 1 000 000 1 500 000 2 000 000 2023 2024 2025 Q1 2026 Remaining results 14 All figures in PLN thousands
Slide 15: Thank you
Thank you ir@cdprojekt.com karolina.gnas@cdprojekt.com 15
Slide 16: 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