#1a azerion Next. Level. Digital. Entertainment. Media. azerion Next. Level. Digital. Entertainment. Media 1#2Delivering on our strategy We entertain audiences, and we help brands improve the way they engage with those audiences in the digital space € Revenue Content Audience Views azerion Next. Level. Digital. Entertainment. Media Consumers Game Creators O O Customer revenue streams Content Data azerion Technology Partners (O Advertisers Digital Publishers 2#3Our scaled platform creates high barriers to entry 1,000+ Employees of which 500+ tech and creatives¹ HQ Amsterdam 26 offices in 18 countries Consumers 425m+ Unique monthly active users² 17,500+ Game titles7 Advertisers 300,000+ Advertisers³ 4.9bn Digital ads sold per month8 Digital publishers 550+ Digital publishers4 TAS 230,000+ Active domains⁹ ★ HQ Amsterdam • Offices Game creators 850+ Game creators5 160 Average new games per month ¹0 Customers Partners (1) Total headcount as of 30 September 2021. (2) Total number of unique users that are reached through all our products, including through our digital publisher network, in September 2021. (3) Average monthly number of advertisers placing >1 ad in Q2 2021. (4) Number of publishers with >1 transaction in June 2021, through Improve Digital. (5) Game developers for which Azerion distributes the content, as of June 2021. (6) As of June 2021. (7) Game titles as of as of Q4 2021, as part of the Game Distribution portfolio. (8) Average number of paid impressions served through Improve Digital per month in Q4 2021. (9) Number of 3 azerion active domains (websites and apps) where >1 paid impressions was shown in September 2021. (10) Average number of new games per month that are activated for distribution in our Casual Distribution channel and is a mix of external and internal content. Average over Q4 2021.#4High growth, increasingly profitable and cash flow positive €127m 2018 STRONG TOP-LINE GROWTH 37%+ Revenue CAGR 2018-2022 azerion €173m Reported revenue 2019 €195m 2020 €384m PF for M&A €308m 2021 Estimated pro forma revenue €450m+ 2022 • Strong performance from all segments (Platform and Premium Games) Continued integration of acquisitions Guidance of at least EUR 450 million revenue for 2022 Expected growth between 2018 and 2022, not accounting for any additional 2022 M&A. 2018 based on Dutch GAAP, not fully comparable. 2019 and 2020 audited IFRS figures. Estimated proforma revenue assumes all acquisitions completed in 2021 were part of the group for the full year 2021 4#5Spotlight on our Content and Consumers Content is the biggest opportunity in the digital age. The future is digital entertainment azerion Consumers Game Creators Customer revenue streams Content 3 Data azerion Technology Partners *** Advertisers Digital Publishers 01 5#6Spotlight on our Content and Consumers Platform fuelled by our highly diversified and scaled content Thousands of Casual Games for all (free-to-play)¹ makaong Jee 17,500+ Game titles³ 中發 azerion Next. Level. Digital. Entertainment. Media Solitaire 2,400+ Game portals4 X KIZI KART Nine Premium Games for our most engaged players (in-game purchase)² Community (MMO) Poker ~160 HABBO PLAYER 1 Average new games per month 5 smest 0000150 HOTEL 25 Wooz world 30 Proprietary technology and data FREE GOVERNOR POKER 3 POKERWORLD ஆர் EAST COAST 08 ®© 19 Jackpot MONOPOLY Poker GOVERNOP POKOR PRYSOW Safe and reliable (1) Casual Games are free-to-play games, where Advertisers & B2B partners pay for access to Azerion's consumers, technology and content. (2) Premium Games are defined as the games where consumers pay directly for their gaming experience through in-game purchases. (3) Game titles as of Q4 2021, as part of the Game Distribution portfolio. (4) Individual active game portals as of December 2021. (5) Average number of new games per month that are activated for distribution in our Casual Distribution channel and is a mix of external and internal content. Average over Q4 2021. 6#7Spotlight on our Content and Consumers Our game content appeals to all ages, nationalities and interests What age groups play our games?¹ 65+ 41-64 21-40 13-20 22.7% 27.8% azerion Next. Level. Digital. Entertainment. Media 28.3% 21.2% Pets makaong SOD Puzzle Solitaire Cards Instagirls Dress-up Male 32% 32 KIZI KART Racing Wooz world NA WEAL adventure Undisclosed 5% 353m Unique game plays per month³ Design Female 63% shooters casino adventure 9 Strategy Where do our players play?² Europe Asia4 North America South America RoW 21.5% 3.2% 13.9% 10.6% Sports (1) Age distribution of Casual Games only, measured over Q3 2020 - Q1 2021. Sourced from Nielsen Digital Ad Ratings. (2) Location of players, as of Q4 2021, for entire portfolio (Casual and Premium Games). Sum of gameplays for the whole quarter. (3) Average number of gameplays per month over Q4 2021. Gender split based on Casual Games. Sourced from Nielsen Digital Ad Ratings. Premium Games have 53% of male players and 47% of female players. Note that gender split is an estimation as this data is not registered. It is based on estimates from the Google analytics and Facebook pages. (4) Top 5 Asian countries are Vietnam (58m gameplays in Q4 2021), India (30m), Indonesia (29m), Thailand (28m), Philippines (24m). 50.8% 7#8Spotlight on our Content and Consumers Content innovation is in our DNA The future of Habbo and Hotel Hideaway Bringing brands MICHAEL KORS (MK) Coca-Cola MICHAEL KORS Nintendo The Metaverse 3131313 BALR. BRAZ HABBO azerion Next. Level. Digital. Entertainment. Media MK Bringing artists 10 live concerts in 2021 ~40,000 >800,000 average virtual visitors virtual items sold Innovating social interaction NFT SONY MUSIC Vag Blockchain WARNER MUSIC GROUP UNIVERSAL UNIVERSAL MUSIC GROUP Habbo avatars NFTs launched in Q3 2021 Backed by Ethereum Carbon footprint offset 10,000 avatars sold as digital art Internal studio capabilities (games and ad content) In-house creative and development team Expand new content Example: created new Monopoly Poker game Expand new features Example: regular updates in our games MONOPOLY Poker HUNGRY SHARK ARENA Expand new services Example: in-house capabilities to adapt advertisers' content to mobile format 8#9Spotlight on our Content and Consumers Consumers frequently engage, generating valuable views and data Millions of users... 425m+ Monthly active users¹ azerion Next. Level. Digital. Entertainment. Media 4.9bn Digital ads sold per month³ spending engaged time on our platforms... Average 13 min/day Spent by consumers playing our Casual Games² ... generating valuable views, data and insights ~80m Premium and Casual Game audiences and insights4 ... -350m Connected publisher audience and insights 5 Average 80 min/day Spent by consumers playing our Premium Games² (1) Total number of unique users that are reached through all our products, including through our digital publisher network, in September 2021. (2) Average daily playtime per user, average across Q4 2021. (3) Average number of paid impressions served through Improve Digital per month in Q4 2021. (4) Average monthly active users of Premium and Casual Games in September 2021. (5) Unique monthly active users reached through our total digital publisher network, in September 2021. 9#10Spotlight on our Advertisers Maximizing brand performance, delivering brand safety azerion Consumers Game Creators Customer revenue streams ontent Data azerion Technology Partners Advertisers Digital Publishers 10#11Spotlight on our Advertisers We offer a fully comprehensive proposition to advertisers AdTech services theTradeDesk Magnite LiveRamp Google Pinterest digital turbine azerion facebook PubMatic twittery A APP LOVIN is ironSource azerion Next. Level. Digital. Entertainment. Media Audience segmentation Google Pinterest facebook twitter A APP LOVIN ES ironSource azerion Tung Curated content APPLOVIN IS ironSource azerion ten square games STILLFRONT GROUP Note: Identified peers and market positioning and focus not intended to be exhaustive and is illustrative only. glu Playtika Country-level campaign management azerion 11#12Spotlight on our Advertisers Vertical integration maximizes efficiency for all parties Illustrative allocation of highly intermediated ad spend vs. Azerion's model Traditional ad spend value chain Azerion places ad on 3rd party content Each intermediary takes out ~5-10%¹ SSP User data Fraud detection Viewability tracking Brand safety tracking Business intelligence software Ad serving Dynamic Creative Identity management Digital publishers receive... Fragmented, complex market azerion Next. Level. Digital. Entertainment. Media I 1 2 azerion More efficient, retaining value and sharing it with our clients Digital publishers can receive larger share We act as an efficient one-stop shop (1) Management estimates. 3 Azerion places ad on own content Buying efficiency for advertisers/agencies azerion More revenues in our ecosystem Optimized for advertisers, publishers and Azerion Azerion creates a win-win-win proposition: 1 Digital publishers win: more revenues and more engagement 2 Azerion wins: higher margin and higher customer retention 3 Advertisers win: less revenue leakage of ad spend and increased buyer efficiency 12#13Spotlight on our Partners: Digital Publishers and Game Creators Driving engagement, maximizing reach, capturing value azerion Consumers Game Creators Customer revenue streams Content Data azerion Technology Partners Advertisers Digital Publishers 13#14Spotlight on our Digital Publishers Engage new audiences with content. Increase revenues with our tech A digital publisher can be anyone connects MO AdTech and sales Help digital publishers access advertisers with their existing content Benefits of Azerion's scale delivered to publishers of all sizes 17° The Weather Channel THE VERY BEST UMBRELLA azerion Next. Level. Digital. Entertainment. Media Javek its customers digitally - we provide them with three potential solutions... Gaming-as-a-service Branded and white-label solutions increasing audience engagement Curated access to catalog of 17,500+ titles and exclusive content Chicago Tribune Chicage Tribune ▬▬▬▬▬▬▬▬▬▬ AII telenor Disney HUZ Full-service turnkey solutions Help publishers maximize revenue from their existing audience Management of advertising on existing digital inventory Increase audience engagement through LIBERO games italiaonline Hungry Shark Arend UNGE Note: Digital publishers defined as all companies who are interacting with their customers digitally, for example through online content, portals, news and videos 14#15Spotlight on our Game Creators We enable game creators to distribute, monetize and optimize their games ~400+ New game proposals per month¹ Innovate New content, new features, new services to maintain attractiveness of content and consumer engagement Examples include: Nintendo azerion Next. Level. Digital. Entertainment. Media 5,000+ e-Commerce distribution titles available to consumers² Distribute Connect a large, di rse consumer base to their content Enable easy distribution to digital publishers and ensure compliance with privacy, data and legal frameworks Microsoft® Studios Hasbro Optimize Provide data and key insights Work with game creators to increase engagement and ad impressions the SMURFS ~160 Average new games published per month³ € Monetize Facilitate in-game purchases and generate advertising revenues UBISOFT NANO (1) Average number of game proposals per month in H1 2021. (2) Items available for sale as of 31 December 2021. (3) Average number of new games per month that are activated for distribution in our Casual Distribution channel and is a mix of external and internal content. Average over Q4 2021. 15#16Spotlight on our Game Creators Case Study: We innovate, distribute, optimize and monetize for Ubisoft Ubisoft Ubisoft is IP owner of the Hungry Shark series Innovate HUNGRY SHARK We innovate game and adapt format Ad revenue for Ubisoft Hungry Shark series has 800m+¹ downloads on mobile Ubisoft seeks to adapt the game to HTML (desktop, mobile) azerion Next. Level. Digital. Entertainment. Media Azerion digital entertainment platform Azerion innovates and adapts game to HTML Distribute HUNGRY SHARK ARENA Ad revenue for Azerion Distribute We make game available on one of our portals HUNGRY ARENA We make game available on digital publisher's domain Optimize We share data and key insights Digital Publishers Game is published on Azerion portal Ad revenue for Azerion PLAY Ad revenue for digital publisher Hungry Shark Arend (1) www.ubisoft.com/en-gb/studio/fgol/our-games. SHARK Game is published by digital publisher Azerion media platform Monetize We generate ad revenue for our own inventory AdTech margin revenue for Azerion Monetize We generate ad revenue for digital publishers Advertisers (Ad spend by advertisers) 16#17M&A Track-Record M&A track-record: 9 acquisitions¹ completed in 2021 Acquisitions completed in 2021 Content whow Developer and publisher of online social games Funk OO KEHTED admeen Online social games portals provider azerion Next. Level. Digital. Entertainment. Media DELTA PROJECTS Real-time advertising platform provider PubGalaxy SSP monetization platform Platform sublime 1 Digital advertising agency Cloud-based digital logistics platform for gaming industry IN SKIN 暖 Digital SSP and DSP advertising platform GENBA DIGITAL (1) Excludes asset purchase of Softgames and Talpa consolidation STROSSLE Digital SSP and DSP advertising platform keymobile Mobile advertising services €139m Total spend in 2021 Strong pipeline for M&A in 2022-onwards 17#18Financial performance and outlook Q1 2022: Strong growth and delivery while going public azerion Next. Level. Digital. Entertainment. Media 18#19Portfolio expansion and innovation ● Ubisoft partnership: 10 additional exclusive titles ● Habbo metaverse: playable unique Avatars; kicked-off the development of Habbo X, integrating with Web 3.0 Acquisition of Infinia, bolstering our media platform capabilities, sales force and volumes in Spain and Latin America azerion Next. Level. Digital. Entertainment. Media HABBO YOUR FAVOURITE HOTEL COMING SOON in WEB3 XOX H 8 18 19#20Strong financial performance supported by solid organic growth and successful integration of acquisitions EUR 94m Revenue Q1 2022 EUR 6m Adj. EBITDA Q1 2022 azerion Next. Level Digital Entertainment. Media +107% vs Q1 2021 +118% vs Q1 2021 $ Strong performance from all businesses Continued integration of acquisitions Guidance of at least EUR 450 million revenue for 2022 • Strong contributions from high-margin businesses 20#21Group financial performance Revenue €m 45.5 Q1 2021 Adjusted EBITDA €m 2.7 Q1 2021 Adjusted EBITDA Margin 5.9% azerion Next. Level. Digital. Entertainment. Media 94.4 Q1 2022 5.9 Q1 2022 6.2% Revenue more than doubled YoY Mainly boosted by strong growth in the Platform segment Increase of 118% YoY • Primarily driven by the Premium Games segment 21#22Platform financial performance Revenue €m 34.2 Q1 2021 Adjusted EBITDA €m 1.2 Q1 2021 Adjusted EBITDA Margin 3.5% azerion Next. Level. Digital. Entertainment. Media 72.5 Q1 2022 2.0 Q1 2022 2.7% ~745 new casual game titles ~4.4 billion digital ads sold per month. EUR 6.10 average gross revenue per million ad requests Increased focus on owned and operated solutions • 2021 acquisitions 22#23Premium Games financial performance Revenue €m 11.3 Q1 2021 Adjusted EBITDA €m 1.5 Q1 2021 Adjusted EBITDA Margin 13.6% azerion Next. Level. Digital. Entertainment. Media 21.8 Q1 2022 3.9 Q1 2022 17.7% 82 min average user time in game per day 604k daily active users with average revenue per user of EUR 0.38 • Expansion of Web 3.0 with the integration of Habbo Avatars NFT collection 23#24Disclaimer The following disclaimer applies to this document, the oral or video presentation of the information in this document by Azerion Holding B.V. ("Azerion Holding"), Azerion Group N.V. ("Azerion Group") or any person on behalf of Azerion Holding or Azerion Group and any question-and-answer session that follows the oral or video presentation (collectively, the "Information"). Azerion Holding has bonds listed on Nasdaq Stockholm and Azerion Group has shares and warrants listed on Euronext Amsterdam N.V. The Information has been prepared by Azerion Holding for background purposes only. No reliance may be placed for any purpose on the Information or its accuracy, fairness or completeness. This document and the information contained herein may not be disclosed, taken away, reproduced, redistributed, copied or passed on, directly or indirectly, to any other person or published or used in whole or in part, without the express prior written consent of Azerion Holding and Azerion Group. This document is given in conjunction with an oral or video presentation and should not be taken out of context. The Information and any opinions contained herein are provided as at the date of the presentation and are subject to change without notice. In giving this presentation, neither Azerion Holding or Azerion Group nor any of their respective affiliates undertake any obligation to provide the recipient with access to any additional information or to update the Information, or to correct any inaccuracies in the Information, including any data or forward-looking statements. The Information is only preliminary and indicative, does not purport to be full or complete and does not purport to contain the information that would be required to evaluate Azerion Holding or Azerion Group, their financial position and/or any investment decision. 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Certain financial data included in the presentation consists of alternative performance measures ("non-IFRS financial measures"), including EBITDA and Adjusted EBITDA. The alternative performance measures, along with comparable IFRS measures, are used by Azerion's management to evaluate the business performance and are believed by Azerion's management to be useful to investors. They may not be comparable to similarly-titled measures as presented by other companies, nor should they be considered as an alternative to the historical financial results or other indicators of Azerion Holding's cash flow based on IFRS. Even though the alternative performance measures are used by management to assess Azerion Holdings financial position, financial results or liquidity under IFRS, and these types of measures are commonly used by investors, they have important limitations as analytical tools, and the recipients should not consider them in isolation or as a substitute for analysis of Azerion Holding's financial position or results of operations as reported under IFRS. Adjusted EBITDA as defined in section 1.1 of the Terms & Conditions of the Senior Secured Callable Fixed Rate Bonds ISIN: SE0015837794. For all definitions and reconciliations of alternative performance measures please also refer to www.azerion.com/investors. This presentation may contain forward-looking alternative performance measures. We are unable to provide a reconciliation of these forward- looking alternative performance measures to the most comparable IFRS financial measure because certain information is dependent on future events some of which are outside the control of the company. azerion Next level digital entertainment media 24#25Forward-looking statement The Information may include statements, including Azerion Holding's or Azerion Group's financial and operational objectives that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "forecasts", "anticipates", "expects", "intends", "aims", "targets", "seeks", "continues", "could", "can have", "likely", "would", "may", "might", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Past performance of Azerion Holding and Azerion Group cannot be relied on as a guide to future performance. Any forward-looking statements reflect Azerion Holding's and/or Azerion Group's current view and expectations with respect to future events and are subject to risks, uncertainties and assumptions relating to Azerion Holding's and/or Azerion Group's business, results of operations, financial position, liquidity, prospects, growth or strategies, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in Azerion Holding's and Azerion Group's records (and those of its their affiliates) nd other data available from third parties. Although each of Azerion Holding and Azerion Group believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. azerion Next level digital entertainment media 25 A