#1nexters Q1 2022 Financial Results Nexters Global 4 August 2022 LIGEHOL ? 1#2Disclaimer nexters Forward-looking statements Certain statements in this presentation may constitute "forward-looking statements" for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The forward-looking statements contained in this presentation are based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are the Company's control) or other assumptions. You should carefully consider the risks and uncertainties described in the "Risk Factors" section of the registration statement on Form F-1, as amended, initially filed by the Company on September 22, 2021 and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and the Company undertakes no obligation to up-date or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Due to the rounding the numbers presented throughout this document may not precisely add up to the totals. The period-over-period percentage changes are based on the actual numbers and may therefore differ from the percentage changes if those would be calculated based on the rounded numbers The figures in this document are preliminary and unaudited 2#3Key operating and non-IFRS metrics used in the presentation nexters In this presentation, we use a number of key operating metrics which we believe accurately, in material aspects, reflect the principal parameters of our historic and projected performance. For further information, regarding our operating metrics, see the registration statement on Form F-1 filed with the SEC. Operating metrics Monthly Active Users (MAUS) are the number of individuals who played a particular game in the 30-day period ending with the measurement date Daily Active Users (DAUS) are the number of individuals who played one of our games during a particular day 3 Monthly Paying Users (MPUs) are the number of individuals who made a purchase of a virtual item at least once on a particular platform in the 30-day period ending with the measurement date Monthly Payer Conversion is the total number of MPUs, divided by the number of MAUS Average Bookings Per Paying User (ABPPU) is the total Bookings attributable to in-game purchases in a given period, divided by the number of months in that period, divided by the average number of MPUS during the period Bookings are sales contracts generated from in-game purchases and sales of advertisement in a given period#4Key Highlights#5Key financial highlights (1/2) $m Revenue LO 5 87 Q1 2021 +45% Source: Company information 126 Q1 2022 $m Operating Cash Flow 18 Q1 2021 +1% 18 Q1 2022 $m Net Income/ Loss -12 Q1 2021 23 Q1 2022 nexters Revenue increased by 45% YOY driven primarily by an increase in bookings and by a decrease in change of deferred revenues X Operating cash flow remained relatively stable vs Q1 2021 Net income increased by $35m and amounted $23m vs net loss of $12m in respective period of 2021#6Key financial highlights (2/2) $m Selling and Marketing Expenses 6 65 Q1 2021 -13% Source: Company information 57 Q1 2022 $m G&A Expenses 3 Q1 2021 >100% 80 Q1 2022 $m Total Costs and Expenses, Excluding D&A 96 Q1 2021 +12% 108 Q1 2022 nexters Selling and marketing expenses decreased by 13% YoY mainly due to the suspension of marketing activities in FSU countries as well as general decrease of UA expenses due to the saturation of the market in Q1 2022 G&A expenses increased by $6m primarily driven by an increase in personnel and other expenses resulting from the recurring NASDAQ listing expenses as well as the increase in the scale of the Group's operations Total costs and expenses (excl. D&A) increased by 12% YoY due to higher G&A expenses as well as increased platform commissions and game operations costs#7Key Operating Highlights '000 users Monthly Paying Users (¹) 7 318 Q1 2021 +18% 375 Q1 2022 $/month Average Bookings Per Paying User (2) 114 Q1 2021 -5% 108 Q1 2022 $m Bookings 112 Q1 2021 +13% 127 Q1 2022 Source: Company information (1) The Company defines Monthly Paying Users, or MPUS, as the number of individuals who made a purchase of a virtual item at least once on a particular platform in the 30-day period ending with the measurement date; Quarterly MPU is the average of MPUS for each month for the respective quarter (2) The Company defines Average Bookings Per Paying User, or ABPPU, as its total Bookings attributable to in-game purchases in a given period, divided by the number of months in that period, divided by the average number of MPUS during the period nexters M&A transactions completed in Q1 together with UA investments in 2021 resulted in a substantial increase in MPU ABPPU decreased by 5% due to a substantial inflow of new paying users The increase in MPUS resulted in the growth of quarterly bookings#8Diversification across key platforms and geographies $m Bookings By Platform (¹) Mobile Desktop 8 112 65% 35% Q1 2021 +13% 127 64% 36% Q1 2022 YoY 12% 15% Source: Company information 1) For platform and geography splits corresponding shares in management accounts were used $m Bookings By Geography (¹) US Europe Asia 112 33% 24% 21% 13% 9% Q1 2021 +13% FSU 127 31% 21% 28% 10% 10% Q1 2022 Other YoY 5% 0% 49% -13% 30% nexters Desktop games increased by 15% enabling to access a wider audience and expand our addressable market Mobile platforms also showed strong growth with 12% YoY increase Among geographies, Asia continue to be the main growth driver with 49% YoY increase Decrease in FSU region is primary driven by the suspension of marketing activities there#9Changes in the corporate governance Three new independent directors proposed to join the board: 7 Tal Shoham Over 10 years of experience in gaming, ad-tech, growth & monetization technologies. Tal's primary areas are ad-monetization, user acquisition, marketing strategy, product, and M&A ● ● Marie Holive Over 20 years of experience of finance and audit expertise in media, tech, healthcare, including Senior Audit Manager, Chief Financial Officer and Managing Director roles at such companies as General Electric and Comcast NBCUniversal Currently Tal is an angel investor and board member in a few early-stage gaming companies, Co-Founder and President of Tedooo and an LP investor at a leading israeli venture fund- Vgames. ● Holds a bachelor's degree in Politics, Government and Management from the Ben-Gurion University of the Negev. ● Now Marie is serving as a coach and mentor at ICAEW, INSEAD and London Business School, as well as advising a number of corporations and start-ups Olga Loskutova Over 20 years in marketing and general management across Western/Eastern Europe, the US, the Middle East in such multinationals as Nestle, SABMiller, Whirlpool Currently Olga is the VP Product & Brand Marketing at Whirlpool EMEA Holds a degree in Marketing from Plekhanov Russian University of Economics as well as executive development programs at IMD and Saïd Business School, University of Oxford. Holds a Master of Science in engineering, an MBA from London Business School and Columbia Business School, and the Non-Executive Director diploma from the Financial Times iS ironSource SUPER SONIC HUUUGE COMCAST GE London Business School Nestle Whirlpool nexters Ivan Tavrin will leave the board and the position of the chairman and will no longer be involved in the corporate governance, management or operation of the company New chairman will be elected through voting by the Board of Directors Igor Bukhman and Boris Gertsovskiy will resign as directors of the board, while remaining major shareholders and participating in the company's operation on advising and management levels respectfully Three new independent directors will join the board providing strong international multi-industry expertise in finance, marketing, and product strategies The share of independent directors will increase from the existing 43% to 71%#10F Appendix Fo#11Balance Sheet ($ in thousands) Assets Non-current assets Property and equipment Intangible assets Investments in equity accounted associates Goodwill Long-term deferred platform commission fees Right-of-use-assets Deferred tax assets Other non-current assets Loans receivable - non-current Total non-current assets Current assets Indemnification asset Trade and other receivables Loans receivable Cash and cash equivalents Prepaid tax Total current assets TOTAL ASSETS Liabilities and shareholders' equity Equity Share capital Other reserves Accumulated deficit Non-controlling interest Total equity Non-current liabilities Lease liabilities - non-current Long-term deferred revenue Share warrant obligations Put option liability Other non-current liabilities Total non-current liabilities Current liabilities Lease liabilities - current Trade and other payables Provisions for non-income tax risks Tax liability Deferred revenue Total current liabilities TOTAL LIABILITIES TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 11 Source: Company information Dec 31, 2021 1,352 266 1,501 116,533 2,050 25 107 121,834 45,087 123 142,802 3,137 191,149 312,983 166,405 -327,497 44 -161,048 1,103 128,074 22,029 151,206 831 26,573 814 294,607 322,825 474,031 312,983 Mar 31, 2022 1,371 17,144 26,806 48,714 113,902 2,698 55 11,727 9,987 232,404 3,267 48,625 162 83,704 3,553 nexters. 139,311 371,715 165,095 -304,068 26 -138,947 877 120,568 14,620 14,141 17,568 167,774 1,544 33,356 1,381 3,194 303,413 342,888 510,662 371,715#12Profit and Loss Statement ($ in thousands) Revenue Costs and expenses, excluding depreciation and amortization Cost of revenue: Platform commissions Game operation cost Selling and marketing expenses General and administrative expenses Total costs and expenses, excluding depreciation and amortization Depreciation and amortization Profit/ Loss from operations Finance income Finance expenses Change in fair value of share warrant obligations and other financial instruments Share of profit of equity-accounted associates Income/(loss) before income tax Income tax expense Income/(loss) for the period, net of tax Other comprehensive income/(loss) Total comprehensive income/(loss) for the period, net of tax Earnings/(loss) per share: Basic and diluted earnings/(loss) per share, US$("¹) 12 Source: Company information (1) Based on a weighted average number of ordinary shares for basic and diluted earnings per share of 20,000 Q1 2021 86,689 -24,480 -3,937 -64,727 -2,809 -95,953 -459 -9,723 -1,880 -11,603 -184 -11,787 -51 -11,838 -0.07 Q1 2022 126,071 -33,451 -9,310 -56,593 -8,496 -107,850 -1,467 16,754 99 -1,038 6,692 1,656 24,163 -752 23,411 -281 23,130 0.12 nexters#13Cash Flow Statement ($ in thousands) Operating activities Profit/(loss) for the period, net of tax Adjustments for: Depreciation and amortization Share-based payments expense Share of profit of equity-accounted associates Expected credit losses Property and equipment write-off Change in fair value of share warrant obligations and other financial instruments Unwinding of discount on the put option liability Interest income Interest expense Foreign exchange loss Income tax expense Changes in working capital: Increase in deferred platform commissions Increase in deferred revenue Increase in trade and other receivables Increase/(decrease) in trade and other payables Income tax (paid)/received Net cash flows generated from/(used in) operating activities Investing activities Acquisition of intangible assets Acquisition of property and equipment Acquisition of subsidiary net of cash acquired Investments in equity accounted associates Loans granted Proceeds from repayment of loans Net cash flows (used in)/from investing activities Financing activities Payments of lease liabilities Interest on lease Net cash flows used in financing activities Net (decrease)/increase in cash and cash equivalents for the period Cash and cash equivalents at the beginning of the period Effect of changes in exchange rates on cash held Cash and cash equivalents at the end of the period 13 Source: Company information Q1 2021 -11,787 459 390 000000 24 1,801 184 -8,929 -5,555 26,873 -13,303 19,199 27,214 -64 18,221 -58 -126 -1,217 O O O 8 -1,393 -550 -24 -574 16,254 84,557 -899 99,912 Q1 2022 23,411 1,467 1,065 -1,656 332 313 -6,692 67 -99 43 781 752 19,784 2,631 1,300 -2,970 -2,210 -1,249 -126 18,409 -7 -505 -50,022 -16,586 -9,936 O -77,056 -634 -41 -675 -59,322 142,802 224 83,704 nexters