Slide 1: CD PROJEKT GROUP Q3 2025 Earnings
CD PROJEKT GROUP Q3 2025 Earnings 26 NOVEMBER 2025 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
Slide 2: Copies Sold
COPIES SOLD* * as of 26 November 2025 - Cyberpunk 2077 2 (copies of the game sold separately and in the Ultimate Edition bundle)
Slide 3: Cyberpunk 2077 on PlayStation Plus Game Catalog Extra
ad PlayStation.Plus NEW ON GAME CATALOG EXTRA
Slide 4: Laying the foundations for Cyberpunk 2
Laying the foundations for Cyberpunk 2 The process of scaling up the Boston team 350 10.2025 300 250 200 150 100 50 0 2023 2024 2025 2026 2027 Cyberpunk 2 team size - Warsaw & Vancouver Cyberpunk 2 team size - Boston 4
Slide 5: Development teams engaged in ongoing projects
Development teams engaged in ongoing projects No. of developers July 31, 2025 444 116 51 22 149 17 799 October 31, 2025 447 135 56 29 162 22 851 The Witcher 4 Cyberpunk 2 Sirius Hadar Shared Services* Other *e.g. Localization, Central Quality Assurance, Data, Insights & Experiences, Motion Capture 5
Slide 6: Financial Results
Financial Results OF THE CD PROJEKT GROUP 6
Slide 7: CD PROJEKT GROUP — Profit and loss account (Q3)
CD PROJEKT GROUP — Profit and loss account CD PROJEKT GROUP RED GOG eliminations Q3 2025 vs. Q3 2025 vs. Q3 2024 Q3 2025 Q3 2025 Q3 2025 Q3 2025 Q3 2024 [PLN] Q3 2024 [%] Sales revenue 227 449 349 072 303 133 48 982 -3 043 121 623 53% Sales of products and services 181 064 291 438 288 685 252 2 501 1
Slide 8: CD PROJEKT GROUP — Profit and loss account (Q1-Q3)
CD PROJEKT GROUP — Profit and loss account CD PROJEKT GROUP RED GOG eliminations Q1-Q3 2025 vs. Q1-Q3 2025 vs. Q1-Q3 2024 Q1-Q3 2025 Q1-Q3 2025 Q1-Q3 2025 Q1-Q3 2025 Q1-Q3 2024 [PLN] Q1-Q3 2024 [%] Sales revenue 652 140 792 112 658 575 143 285 -9 748 139 972 21% Sales of products and services 525 473
Slide 9: CD PROJEKT RED Net profit vs. costs and expenses
CD PROJEKT RED Net profit vs. costs and expenses 53% 45% 47% 42% 50% 27% 47% 33% 9 All figures in PLN thousands
Slide 10: CD PROJEKT GROUP – assets
CD PROJEKT GROUP – assets Assets 30.06.2025 30.09.2025 change change % Non-current assets 1 841 892 2 095 752 253 860 14% Expenditure on development projects 897 726 1 019 742 122 016 14% – New development during Q3 2025 136 595 – Amortization during Q3 2025 14 579 Other financial assets * 321 129 44
Slide 11: CD PROJEKT GROUP – equity and liabilities
CD PROJEKT GROUP – equity and liabilities Equity and liabilities 30.06.2025 30.09.2025 change change % Equity 2 877 060 3 061 479 184 419 6% Liabilities 316 323 237 605 -78 718 -25% Liabilities 209 862 109 993 -99 869 -48% Deferred income 31 553 29 614 -1 939 -6% Provisions 74 908 97 998 23 090 31%
Slide 12: CD PROJEKT RED Research, development & product maintenance costs
CD PROJEKT RED Research, development & product maintenance costs 160 000 140 000 120 000 100 000 80 000 60 000 40 000 20 000 0 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Cost of product maintenance - released products (P&L - Selling costs) Research works costs - new projects (P&L - G&A
Slide 13: Changes in cash, deposits & bonds
CD PROJEKT GROUP Changes in cash, deposits & bonds 31 850 -40 210 5 284 -117 878 30 606 193 492 221 022 -99 911 -22 424 Total cash flow from “ongoing business” during Q3 2025: +221 022k PLN 1 426 772 Total decrease (including development expenses, dividend, share buy back) during Q3 2025: -19 191k PL
Slide 14: CD PROJEKT GROUP – incentive program B
CD PROJEKT GROUP – incentive program B Consolidated net profit goals of the motivational program to align top managers goals with the CD PROJEKT Group Objectives 4 000 000 3 000 000 91% 2 000 000 73% remaining 35% remaining remaining 1 000 000 0 2023-2026 2024-2027 2025-2028 2023 FY Net profit 2024 FY
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