#1nexters Q2 2022 Financial Results Nexters Global 28 September 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 beyond the Company's control) or other assumptions. You should carefully consider the risks and uncertainties described in the "Risk Factors" section of the Company's registration statement on Form F-1, initially filed by the Company on September 22, 2021, as most recently amended, 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. Non-IFRS Financial Measures This presentation contains certain financial measures that are not prepared in accordance with International Financial Reporting Standards as promulgated by the International Standards Accounting Board ("IFRS") and that may be different from non-IFRS financial measures used by other companies. These non-IFRS financial measures and other measures that are calculated using these non-IFRS financial measures are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with IFRS and should not be considered as an alternative to operating income, net income or any other performance measure derived in accordance with IFRS. Nexters believes that these non-IFRS measures of financial results provide useful information to investors about Nexters. However, there are a number of limitations related to the use of these non-IFRS measures and their nearest IFRS equivalents. For example other companies may calculate non-IFRS measures differently, or may use other measures to calculate their financial performance, and therefore Nexters' non-IFRS measures may not be directly comparable to similarly titled measures of other companies. 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 unaudited 2#3Key operating metrics used in the presentation In this presentation, we use a number of key operating and non-IFRS financial 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. nexters Operating metrics 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 3 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 Non-IFRS measure Adjusted EBITDA. The Company defines Adjusted EBITDA as the net income/loss as presented in the Company's financial statements in accordance with IFRS, adjusted to exclude (i) other comprehensive income/loss, (ii) loss for the period from discontinued operations, (iii) income tax expense, (iv) net finance income/expense, (v) change in fair value of share warrant obligations and other financial instruments, (vi) share of loss of equity-accounted associates, (vii) depreciation and amortization, and (viii) share-based payments. Adjusted EBITDA is a non-IFRS financial measure and should not be construed as an alternative to net income/loss as an indicator of operating performance as determined in accordance with IFRS.#4Key Highlights#5Corporate updates On June 29, 2022 Nexters announced changes to its headcount which impacted 235 employees located in Russia, Cyprus and other countries LO 5 nexters The Board of Directors resolved on July 11, 2022 to intensify the Company's relocation program to Cyprus, Armenia, and certain other "safe-harbor" countries and to divest its Russia-based subsidiaries As of August 31, 2022 Nexters has fully divested its Russian operations which share of assets in Nexters Group's total assets amounted to 3.7% as of June 30, 2022 Nexters announced changes to its Board of Directors: Marie Holive, Olga Loskutova and Tal Shoham were elected at its 2022 annual general meeting as new independent directors Natasha Braginsky Mounier has been elected by Nexters' newly composed Board of Directors as Chairperson of the Board Marie Holive will serve as a Chairperson of the Audit Committee and Olga Loskutova will serve as a Member of the Nomination and Compensation Committee. With these changes, all of Nexters' committees consist of independent directors only#6Key financial highlights (1/2) $m Revenue 6 110 Q2 2021 196 H1 2021 +15% +28% 126 Q2 2022 252 HT 2022 Source: Company information (unaudited) $m Net Income/ Loss -20 Q2 2021 -32 H1 2021 33 Q2 2022 56 HT 2022 $m Adjusted EBITDA -15 Q2 2021 -22 H1 2021 46 Q2 2022 73 HT 2022 nexters Revenue increased by 28% YoY in H1 2022 and by 15% YoY in Q2 2022 driven primarily by a decrease in change of deferred revenues during the respective periods vs the same periods in the prior year and partially offset by a decrease in bookings Net income in H1 2022 and in Q2 2022 of $56m and $33m respectively Adjusted EBITDA amounted to $73m in H1 2022 and $46m in Q2 2022#7Key financial highlights (2/2) $m Selling and Marketing Expenses 7 91 Q2 2021 155 H1 2021 -61% -41% 35 Q2 2022 HT 2022 Source: Company information (unaudited) $m G&A Expenses M Q2 2021 5 H1 2021 >100% >100% 7 Q2 2022 14 HT 2022 $m Total Costs and Expenses, excl. D&A 125 Q2 2021 219 H1 2021 -35% -18% 81 Q2 2022 180 HT 2022 nexters Selling and marketing expenses decreased by 41% YoY in H1 2022 and by 61% in Q2 2022 mainly due to the massive scaling of UA investments into new players both in H1 2021 and Q2 2021 amplified by a substantial decrease in UA investments in H1 2022 and Q2 2022 driven by the general saturation of the market as well as the suspension of our marketing activities in Russia and Belarus G&A expenses increased by $8m in H1 2022 and by $4m in Q2 2022 driven by an increase in personnel and other expenses associated with listing on NASDAQ and increase in the scale of our operations as well as by the special costs related to the reduction of personnel in Q2 2022#8Key operating highlights '000 users Monthly Paying Users (¹) 8 395 Q2 2021 357 H1 2021 -13% +1% 343 Q2 2022 359 HT 2022 $/month Average Bookings Per Paying User (2) 125 Q2 2021 120 H1 2021 -17% -12% 103 Q2 2022 106 HT 2022 $m Bookings 154 Q2 2021 267 H1 2021 -28% -11% 111 Q2 2022 238 HT 2022 Source: Company information (unaudited) The Company defines Monthly Paying Users, or MPUS, as the number of individuals who made a purchase of a virtual item at least once on a particular platform in the 30-day period ending with the measurement date; Quarterly MPU is the average of MPUS for each month for the respective quarter (1) (2) The Company defines Average Bookings Per Paying User, or ABPPU, as its total Bookings attributable to in-game purchases in a given period, divided by the number of months in that period, divided by the average number of MPUS during the period nexters H1 2021 and Q2 2021 were characterized by a record high UA investment, which led to high growth in MPUs. The decrease in UA investments in Q2 2022 resulted in a corresponding decrease in MPUS, which reached 343k in Q2 2022 vs 395k in Q2 2021 (a decline of 13%), while for H1 2022 MPU remained relatively stable at 359k compared to the 356k in H1 2021#9Platform and geographic split 9 36% 1) 2) Split by Platform (¹) Mobile Desktop H1 2022 64% US 27% Split by Geography (¹) Europe 19% H1 2022 Asia 21% 32% Other (2) Source: Company information (unaudited) Corresponding shares are calculated based on sales contracts generated from in-game purchases and in-game advertising for a given period Starting Q2 2022 the FSU category was merged into Other due to the fact that its share in the total bookings was substantially decreasing over time and it does not have any strategic importance going forward as a result of all the investments into the user acquisition have been suspended since February 2022. nexters The share of desktop versions of our games increased by 3 p.p. in H1 2022 enabling us to access a wider audience and expanding our addressable market Split of bookings by geography in H1 2022 remained broadly similar to the split in H1 2021 with slight increase of Asia share#10F Appendix Fo#11Balance Sheet ($ 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 asset Other non-current assets Loans receivable - non-current Total non-current assets Current assets Assets included in disposal group classified as held for sale 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 Equity attributable to equity holders of the Company Non-controlling interest Total equity Non-current liabilities Lease liabilities - non-current Long-term deferred revenue Share warrant obligations Put option liabilities Other non-current liabilities. Total non-current liabilities Current liabilities Liabilities included in disposal group classified as held for sale 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 (unaudited) Jun 30, 2022 627 15,553 22,051 48,900 105,440 1,622 6,161 14,450 214,804 13,776 3,267 46,229 356 91,378 3,444 158,450 373,254 169,517 (274,434) (104,917) (281) (105,198) 417 110,981 17,265 13,886 9,071 151,620 3,589 886 18,989 1,381 3,661 298,326 326,832 478,452 373,254 Dec 31, 2021 1,352 266 1,501 116,533 2,050 25 107 121,834 nexters 45,087 123 142,802 3,137 191,149 312,983 166,405 (327,497) (161,092) 44 (161,048) 1,103 128,074 22,029 151,206 831 26,573 814 294,607 322,825 474,031 312,983#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/ (expense), net Change in fair value of share warrant obligations and other financial instruments Share of loss of equity-accounted associates Income/(loss) before income tax Income tax expense Profit/(loss) for the period from continuing operations, net of tax Discontinued operations Loss for the period from discontinued operations, net of tax Profit/(loss) for the period, net of tax Attributable to equity holders of the Company Attributable to non-controlling interest Other comprehensive income/(loss) Total comprehensive income/(loss) for the period, net of tax Attributable to equity holders of the Company Attributable to non-controlling interest Earnings/(loss) per share: Basic and diluted earnings/(loss) per share, US$(¹) 12 Source: Company information (unaudited) (1) Based on a weighted average number of ordinary shares for basic and diluted earnings per share of 20,000 H1 2022 251,837 (68,839) (6,597) (91,321) (13,680) (180,437) (2,287) 69,113 393 7,268 (1,640) 75,134 (2,025) 73,109 (20,371) 52,738 53,063 (325) 3,177 55,915 56,240 (325) 0.28 H1 2021 196,333 (53,990) (3,795) (155,472) (5,479) (218,736) (248) (22,651) (1,117) (23,768) (524) (24,292) (7,506) (31,798) (31,798) (250) (32,048) (32,048) (0.18) Q2 2022 125,766 (35,388) (3,310) (35,027) (7,441) (81,166) (1,374) 43,226 1,612 576 (3,296) 42,118 (1,252) 40,866 (11,538) 29,327 29,634 (307) 3,458 32,785 33,092 (307) 0.17 nexters Q2 2021 109,644 (29,510) (1,566) (90,745) (3,247) (125,068) (106) (15,530) 711 (14,819) (325) (15,144) (4,866) (20,010) (20,010) (202) (20,212) (20,212) (0.11)#13Cash Flow Statement ($ in thousands) Operating activities Profit/(loss) for the period, net of tax Adjustments for: Depreciation and amortization Share-based payments expense Share of loss of equity-accounted associates Expected credit losses Property and equipment write-off Impairment of intangible assets Change in fair value of share warrant obligations Unwinding of discount on the put option liability Interest income Interest expense Foreign exchange loss/(gain) Income tax expense Changes in working capital: Decrease/(increase) in deferred platform commissions (Decrease)/increase in deferred revenue (Increase)/decrease in trade and other receivables (Decrease)/increase 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 investing activities Financing activities Payments of lease liabilities Proceeds from borrowings Interest on lease Dividends paid and distribution to shareholders 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 (unaudited) H1 2022 52,738 3,617 2,029 1,640 3,859 313 241 (7,268) 101 (334) 77 779 2,092 59,884 11,093 (13,374) (2,128) (15,768) (20,177) (202) 39,505 (107) (516) (50,022) (15,000) (17,786) 125 (83,306) (1,438) 165 (77) (1,350) (45,151) 142,802 1,426 99,077 H12021 (31,798) 1,068 705 50 1,078 554 (28,343) (15,665) 71,722 (31,602) 14,721 39,176 (30) 10,803 (90) (449) (1,240) (282) 8 (2,053) (940) (49) (50) (50,534) (51,573) (42,823) 84,557 (836) 40,898 Q2 2022 29,327 2,150 964 3,296 3,527 241 (576) 34 (235) 34 (2) 1,340 40,100 8,462 (14,674) 842 (13,558) (18,928) (76) 21,096 (100) (11) 1,586 (7,850) 125 (6,250) (804) 165 (36) (675) 14,171 83,704 1,202 99,077 Q2 2021 (20,010) 609 315 26 (723) 370 (19,413) (10,110) 44,849 (18,299) (4,782) 11,658 34 (7,721) (32) (323) (23) (282) (660) (390) (49) (26) (50,230) (50,695) (59,076) 99,912 62 40,898 nexters#14Reconciliation of the net income/loss to the Adjusted EBITDA $m Net income/ (loss) Add back: Other comprehensive (income)/loss Loss for the period from discontinued operations Tax expense Finance (income)/expense, net Change in fair value of share warrant obligations and other financial instruments Share of loss of equity-accounted associates Depreciation and amortization Share based payments Adjusted EBITDA 14 Source: Company information (unaudited) Q2 2022 33 M 12 1 (2) (0.6) 3 1 1 46 Q2 2021 (20) 0.2 5 0.3 (0.7) 0.1 0.3 (15) H1 2022 56 M 20 2 (0.4) (7) 2 2 2 73 nexters H1 2021 (32) 0.3 8 0.5 1 0.2 0.7 (22)