Modern Times Group Mtg Ab Class A · OMXSTO:MTG_A

Modern Times Group Mtg Ab Class A — Q4 2025 Earnings Presentation

10 slides from Modern Times Group Mtg Ab Class A's earnings presentation, Feb 5, 2026

  1. Slide 1: Q4 2025

    Q4 2025 Maria Redin, CEO Nick Hopkins, CFO February 5, 2026

  2. Slide 2: All time high revenues and adjusted EBITDA

    All time high revenues and adjusted EBITDA Q4 2025 performance Net Net sales Organic Organic UA spend sales CC 1 YoY growth growth YoY growth SEK 3,123 m 108 % (Like for like currency 8 % 25 % ($332 m) impact of -12%) (98% total group CC 1 YoY growth) Adj. EBITDA Unlevered LTM U nlevered Adj. EBITDA

  3. Slide 3: 4 sequential quarters of organic growth, with 9% for FY2025

    4 sequential quarters of organic growth, with 9% for FY2025 Reported revenue 1, SEKm Reported revenue 1, SEKm LTM YoY Organic growth Reported at c onstan t FX 6% 9% 15% 8% 79% 117% 126% 108% CAGR 2 11,579 3,123 2,987 5% 3 10,148 2,911 +14% 2,557 8,599 35% 7,126 5,537 5,564 5,829 5,970 5,949 1,693 5,

  4. Slide 4: Strong end to the year from Word Games, Racing & RAID

    Strong end to the year from Word Games, Racing & RAID YoY development YoY development at constant Revenue by franchise, SEKm in reported currencies currencies Other smaller franchises Racing Word Games Tower Defense Strategy & Simulation Plarium 3,123 -13% -7% 2,911 2,987 97 Q4 r evenue Q4 largest g

  5. Slide 5: Direct-to-Consumer contribution up 600bps to 32%

    Direct - to- Consumer contribution up 600bps to 32% Revenue streams Revenue generated by platform, % IAP Third party publication platforms (Other) Mobile app stores Other IAA Direct to consumer 79% 78% 80 75% 90 74% 80 78% 76% 77% 78% 70 75% 75% 61% 62% 69% 70% 69% 59% 60% 70 60 58% 58% 64% 60 50 50

  6. Slide 6: Continued UA investment with positive momentum

    Continued UA investment with positive momentum UA spend development UA spend, SEKm • Q4 25 UA spend represented 38% of revenues, up UA spend as % of revenue slightly from 37% in Q3 25 1,192 1,200 1,112 1,100 1,054 1,000 959 • Full year 2025 UA spend represented 37% of 900 revenues 800 700 677 600 60

  7. Slide 7: 23% adjusted EBITDA margin for both FY and Q4

    23% adjusted EBITDA margin for both FY and Q4 Reported adj. EBITDA 1, SEKm Reported adj. EBITDA 1, SEKm LTM Adj. EBITDA margin 27% 24% 22% 23% 23% +58% CAGR 2 +59% 717 2,648 675 +30 % 2,386 +11% 640 616 2,101 1,886 449 455 1,682 1,711 1,651 1,666 439 426 1,548 397 396 390 1,416 1,451 1,372 1,408 378

  8. Slide 8: Strong cash flow and cash conversion, with healthy leverage

    Strong cash flow and cash conversion , with healthy leverage Group cash flow statement, SEKm Q4’25 LTM Q4’25 Income before tax adjusted for items not included in cash flow 66 8 2,259 Taxes paid -75 -69 5 Changes in working capital 247 159 1.02x 1.58x Cash flow from operations 84 0 1,723 Financial le

  9. Slide 9: Conclusion: Record end to a transformative year

    Conclusion : Record end to a transformative year • All-time high revenue and adjusted EBITDA • Delivered on guidance • New District structure implemented from start of 2026 • Midcore transformation progressing well • Pre -IPO study for PlaySimple concluded • Well-positioned to deliver on medium -ter

  10. Slide 10: Q&A

    Q&A 10

Modern Times Group MTG — Q4 2025 Earnings Presentation on 6ix