Slide 1: It's More Than a Game
IT’S MORE THAN A GAME.
Slide 2: Disclaimer
DISCLAIMER Disclaimer This presentation is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a proposed business combination (the “proposed business combination”) between PLAYSTUDIOS, Inc. ("PLAYSTUDIOS" or the
Slide 3: Disclaimer (continued)
DISCLAIMER (continued) Use of Projections This presentation contains projected financial information with respect to PLAYSTUDIOS, including revenue, cost of sales, user acquisition costs, other expenses and Adjusted EBITDA. Such projected financial information constitutes forward-looking information
Slide 4: Disclaimer (continued)
DISCLAIMER (continued) Additional Information In connection with the proposed business combination, Acies intends to file a registration statement on Form S-4 with the Securities and Exchange Commission (the “SEC"), which will include a proxy statement/prospectus, that will be both the proxy stateme
Slide 5: Investment Highlights
INVESTMENT HIGHLIGHTS Dedicated Network of Players Massive Market Opportunity Compelling Library of Games Robust Pipeline of New Games Proprietary Loyalty Platform @) Global Network of Award Partners
Slide 6: Context
Slide 7: The Market Is Massive
THE MARKET IS MASSIVE Gaming has eclipsed music, movies, and books. $160.08 $140.08 $120.08 $100.0B $80.08 $60.08 $40.08 $20.08 $0.08 2009 2010 2011 crunch, Newzoo, Marketline, C include 2012 2013 2014 _ Music Movies m Books cludes book publishing 2019 TAM Movies Books Gaming $42.28 $113.98 $152.18
Slide 8: The Creator's Dilemma
THE CREATOR’S DILEMMA The ‘inevitable’ life-cycle of a great game. Engagement Challenge Scale Challenge Retention Challenge Discovery Challenge Creative Challenge Development Launch Growth Maturity Contraction
Slide 9: The Loyalty Lift
THE LOYALTY LIFT Loyalty mechanics drive lasting engagement. Incremental Impact of Loyalty Program Deeper Engagement Organic Lift Cross-Promotion Development Launch Growth Maturity Contraction
Slide 10: The Composition of Value
THE COMPOSITION OF VALUE Value drivers in a traditional gaming experience. Method of Depth of Play Play 3 Social Media / Community Feature Breadth Live Content Operations Updates
Slide 11: The PLAYSTUDIOS Approach
THE PLAYSTUDIOS APPROACH The added value of playAWARDS - play free games, earn real rewards! myVIP Real-World Framework Rewards Real Community Connections Concierge Service Real-World Events VIP Hosts 10
Slide 12: Loyalty
Slide 13: Loyalty Programs Work
LOYALTY PROGRAMS WORK Loyalty programs have been broadly adopted across most consumer industries. 10} as ee i. = 738% a Ww [° — 9] CC More consumer engagement with o-° brands offering loyalty programs. Coffee Hotel Car Retail Grocery
Slide 14: Our Loyalty Program Works
Month over Month “No Store Viewer — Store Viewer w/o Purchase — Purchase w/o Redemption —Redeemer OUR LOYALTY PROGRAM WORKS playAWARDS drives increased retention, engagement and monetization. Retention a 23 4 5 6 7 @ 9 W 10X Retention lift for Redeemers vs No-Store Viewers Minutes per Day Engagement
Slide 15: Our Loyalty Program Works
OUR LOYALTY PROGRAM WORKS Players have purchased over 10,000,000 rewards with a retail value of nearly $500M 12,000,000 10,000,000 8,000,000 6,000,000 Rewards Purchased 4,000,000 2012 2013 2014 2015 2016 2017 2018 2019 Cumulative Rewards Purchased — Cumulative Retail Value Purchased 2020 $600,000,00
Slide 16: Our Loyalty Platform Is Robust
OUR LOYALTY PLATFORM IS ROBUST playAWARDS is comprised of key in-game features, partner tools and operating functions. ‘WY In-game myVIP Framework wy | VIP Player Portal == LU In-game Store SDK P Player Mgmt Console Sa any R_| Partner Rewards Console &, Concierge | Host Program Sa jet Game Developer
Slide 17: The Virtuous Cycle
THE VIRTUOUS CYCLE The power of reciprocity. Redeem In-App Offers PLAYERS return to the game to collect free points and earn more real-world awards. di, PARTNERS promote PLAYSTUDIOS apps Promote Partners PLAYSTUDIOS offers players in- app awards in exchange for engagement and loyalty. o= Redeem Real
Slide 18: The Virtuous Cycle: The Business Impact
THE VIRTUOUS CYCLE The Business Impact. More Awards More Players Better value proposition for More people in-game means the players - more awards more people can be reached by available. our partners. More Customers More people in the apps that More Partners With better reach and the ability to driv
Slide 19: Our Story
Slide 20: An Accomplished Team
AN ACCOMPLISHED TEAM Deep, diverse, and experienced. Andrew Pascal Scott Peterson Paul Mathews Katie Bolich Joel Agena Yonatan Maor Yossi Sadoun Ofer Rudstein John Lin Ross Stovall Rob Oseland Oded Maimon Jeff Netzer PLAYSTUDIOS, Founder, Chairman & CEO PLAYSTUDIOS, CFO PLAYSTUDIOS, Founder, EVP PLA
Slide 21: A Global Company
A GLOBAL COMPANY We've built a collection of integrated game studios. BELGRADE BURLINGAME “Y 0 Q. Q. HONG KONG SN TEL AVIV o SINGAPORE _ LAS VEGAS. 6 STUDIOS 385 PLAYMAKERS 20
Slide 22: A Family of Top-Ranked Games
A FAMILY OF TOP-RANKED GAMES We've developed a portfolio of award-winning games. _H BEST MARKETING CANPAING 2019 & Z EKG 227) Slot Awards Show S __BESTSOCIAL —& § camincopenaron % & 4 cones S € 2017 & sisom sorsoreaT
Slide 23: A Robust & Scalable Loyalty Platform
A ROBUST & SCALABLE LOYALTY PLATFORM We've built the game industry's only full-featured loyalty platform. ELEGANT IN-GAME INTEGRATION ROBUST SUITE OF TOOLS wae © VIP | : Ss REFINED OPERATING PRACTICE: bi € ue! Lee! Sy 7 |__| BERBHa = EH lum = = myVIP mechanics are elegantly integrated into the core
Slide 24: A Global Network of Award Partners
A GLOBAL NETWORK OF AWARD PARTNERS We've amassed a diverse collection of leisure partners. Dep vas | RoyalCaribbean NORWEGIAN sl remeron Giulsetme AND wens WOLFGANG PUCK CESSES Po _ Oy Borgera mie y 4 emer M tas eTussatids ‘ Maverick HIPPODROME CHS ia CIRQUE DU SOLEIL. for Hfowulsle (A Ge SP wing Qe
Slide 25: A Valuable & Loyal Audience
A VALUABLE & LOYAL AUDIENCE We've amassed a compelling community of players. Sessions/Day 4.2 Million MAU 2.4 55% Female Minutes/Day 45% Male 56 LS Average Age 1.9 Million k~ 42 Reward Purchasers 11+ Million Rewards Purchased Average Income $80K “IC 24
Slide 26: A Proven Model
A PROVEN MODEL We've proven our ability to scale, engage, and monetize players. p Retention Challenge We have a collection of unique Engagement Challenge offerings that alter the end-of-life We have operating discipline and trajectory. proven Loyalty mechanics. Scale Challenge We have rewards and ad
Slide 27: A History of Revenue Growth
A HISTORY OF REVENUE GROWTH We've sustained our network and consistently scaled revenues year-over-year. 2,500,000 2,000,000 1,500,000 DAU 1,000,000 00,000 FE POSE EE FE PETE EEF EPS lEDAU Revenue RNS Ke vey © © oO © ww ww NA Shh fk 8 8 8 8 PPS $30,000,000 $15,000,000 $10,000,000 $5,000,000 anuansy
Slide 28: A History of Revenue Growth
A HISTORY OF REVENUE GROWTH We've countered the later-stage effects of the Creator's Dilemma. 2500000 2,000,000 1,500,000 DAU 1,000,000 500,000 2 > ab a db © 6 Ow ww OA AAA BH oo AO BD SEK EMH KE MF ME MF Ce Mo KC MH Wa Ma we Y a) Revenue $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $
Slide 29: A Next-Level Opportunity
A NEXT-LEVEL OPPORTUNITY We're applying our proven model to complementary genres. CASINO BRAIN & PUZZLE ADVENTURE & SIM ARCADE & ACTION RPG & STRATEGY $5.5 Billion $8.3 Billion $12.4 Billion $15.0 Billion $30.3 Billion Casino genre embodies the simplicity and nuance of casual games and the monetizat
Slide 30: Growth
Slide 31: Growth Strategy
GROWTH STRATEGY Apply our proven framework and enhance our commercial model. OPTIMIZE... EXPAND... Our existing franchises Our portfolio - build, - continue to run our launch, and scale new core products. games across other genres. © ACQUIRE... Games & expand our network — adding proven apps and the
Slide 32: Exploit the Bingo Category
EXPLOIT THE BINGO CATEGORY Leverage our brands, player network, playAWARDS and creative execution 3D Strip Room Progression Market Opportunity + Sizable overlap with existing PS audience + YoY Growth - 51% + '20 Downloads - 51M + Limited Creative Differentiation Key Features + Best-in-Class Core Gam
Slide 33: Exploit the RPG Category
EXPLOIT THE RPG CATEGORY Leverage playAWARDS, partner integrations and creative execution Market Opportunity Among top growth categories Market - $5.2B YoY Growth - 47% ‘20 Downloads - 272M Limited western-oriented games Key Features AAA Western Fantasy Deep Roster of Heroes & Enemies Guilds & Compe
Slide 34: Apply Our Proven Approach
APPLY OUR PROVEN APPROACH Leverage loyalty mechanics and our player network to seed each new product. myVEGAS Blackjack myKONAMI Slots POP! Slots s0na00 1400900 saq00 e000 sao 7900000 5000 seoc0900 1400000 an soa 4.000900 SEE aoqoon ‘$7,000,000 35000 25900 ssona00 zon000 sepc0900 1900000 scam some 2
Slide 35: Acquisition Driven Growth
ACQUISITION DRIVEN GROWTH Leverage playAWARDS to drive synergies, growth and attractive ROIC. TARGET REVENUE aa TARGET OPERATING INCOME At Acquisition 2Y After Acquistion At Acquisition Base @ NaturalGrowth —@ layawards Loyalty Program-Net ml Direct Purchase Website Playstudios UA Savings Valuation
Slide 36: Summary
SUMMARY Clear and actionable plan to achieve business results. $270M $435M. 2020E Revenue 20226 Base Forecast Y OPTIMIZE > ACQUIRE | DIVERSIFY OOo
Slide 37: Financials
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Slide 38: Revenue
Revenue 500 M 450 M 400 M 350 M 300 M 250 M 200 M 150M 100M 50M M REVENUE Sustained and projected revenue growth. oll 20174 2018A 2019 2020E 2021E 2022E
Slide 39: AEBITDA
AEBITDA “ ape ts . 1) Proven profitability with clear path to margin growth. 30% Forecasted Margin 2025 $100 M 25.0% $90M (2020 - 2022 AEBITDA and Margins Impacted $80 M SEE Seer 20.0% and User Acquisition expenses relatedtonew _ $70M Spas leuches $60M 15.0% $50M $40 M 10.0% $30M $20M 5.0% $10M $M 0
Slide 40: Margin: Clear path to margin growth
30% 25% 20% 15% 10% 5% 0% MARGIN Clear path to margin growth. 30% Forecasted Margin 2025 €Y20 Margin 1.8% 2.6% 2.5%3.0% 2.0%-2.5% CoreBusOpEx ECommerce Ad Mon Corp Expenses. New GamesPost Launch CY22 Margin UAEfficiency Op ExEfficiency _ CY23 Margin
Slide 41: Margin
MARGIN Significant opportunity to expand Adjusted EBITDA (AEBITDA) Margin 30% Forecastes "hae 2025 LTM EBITDA Margin % as of September 30, 20201 36% 35% 32% 32% - Median: 32% (Excl. PLAYSTUDIOS) 25% 21% PLAYSTUDIOS. PLAYSTUDIOS PLAYSTUDIOS Playtika ? Double Down? — Aristocrat * SciPlay ? Zynga® 2022
Slide 42: AEBITDA: Clear path to AEBITDA growth
$120 $100 $80 $60 $40 $20 AEBITDA Clear path to AEBITDA growth. 30% Forecasted Margin 2025 Loyalty Lit Live Operations rose Marketing Market Growth $22 “0 ss $12 Core Games ‘Ad Monetization Bingo & Kingdom Boss Public Company Costs 2026 ‘Margin Expansion Maa
Slide 43: Financials
FINANCIALS . . . 1) Sustained and projected top and bottom-line growth. 30% Forecasted Margin 2025 2017A 2018A 20198 2020E 2021E 2022E Revenue $161.8M $195.5M $239.4M $269.8 M $328.0M $435.2M yor% 20.8% 22.5% 12.7% 21.6% 32.7% Cost of Sales 53.4M 668M 80.3M 912M 102.2M 128.4M % of Revenue 33.0% 3.2%
Slide 44: The Deal
Slide 45: Transaction Overview
TRANSACTION OVERVIEW Acies Acquisition Corp. ("ACAC") is a publicly listed special purpose acquisition company with $215 million cash held in trust ACAC has agreed to combine with PLAYSTUDIOS in a transaction that values the common equity of PLAYSTUDIOS at $1.041 billion Consideration to PLAYSTUDIOS
Slide 46: Compelling Growth
COMPELLING GROWTH Powerful growth trajectory 2020-2022E Revenue CAGR 2020-2022E AEBITDA CAGR 27% 67% 16% 15% 37% 11% 1% 19% 16% 3% [] 4% 4% | = 7" PlayStudios Gaming Zynga Glu Playtika ScPlay PlayStudios Glu Zynga Gaming Playtika- ScPlay Peers Avg, Peers Avg,
Slide 47: Performance Snapshot
PERFORMANCE SNAPSHOT PLAYSTUDIOS and Playtika $0.61 MPLAYSTUDIOS (2019A Revenue = $239M) mPlaytika (2019A Revenue = $1,888M) 46% 29% 28% =Total All organic 22% 11% } Inorganic Organic 7 Z Revenue Growth (%) Adjusted EBITDA Growth (%) Daily Paying User Growth (%) ARPDAU Daily Player Conversion (%) 20
Slide 48: Compelling Valuation
COMPELLING VALUATION PLAYSTUDIOS multiples Implied based on EV of $1,102M EV/2022E Revenue EV/2022E AEBITDA EV/2022E AEBITDA (Growth Adjusted) 5.8 OTs 16.7x 16.4x es 15.2x GamingPeers Playtka Zynga‘ SciPlay—PlayStudios. «Glu Playtka! Zynga Gaming PlayStudios Glu PlayStudios_ ScPlay Playa! — ScPlay G
Slide 49: Investment Highlights
INVESTMENT HIGHLIGHTS Massive Market Opportunity Attractive long-term growth prospects Compelling Library of Games Resilient franchises, with robust pipeline of new products Proprietary Loyalty Platform Proven features that drive retention, engagement & monetization Global Network of Award Partners
Slide 50: PLAYSTUDIOS
PLAYSTUDIOS