#1nexters Q3 2022 Financial Results Nexters Global 6 December 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. 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 nexters Non-IFRS measure 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 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, (viii) share- based payments, and (ix) certain non-cash or other special items that we do not consider indicative of our ongoing operating performance. 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#5Key financial highlights (1/2) $m Revenue LO 5 115 Q3 2021 312 9M 2021 +8% +21% 125 Q3 2022 377 9M 2022 Source: Company information (unaudited) $m Net Income/ Loss -104 Q3 2021 -136 9M 2021 31 Q3 2022 87 9M 2022 $m Adjusted EBITDA 14 Q3 2021 -7 9M 2021 >100% 55 Q3 2022 129 9M 2022 nexters Revenue increased by 21% YoY in 9M 2022 and by 8% YoY in Q3 2022 driven primarily by a decrease in change of deferred revenues and partially offset by a decrease in bookings Net income amounted to $87m in 9M 2022 and $31m in Q3 2022 Adjusted EBITDA amounted to $129m in 9M 2022 and $55m in Q3 2022#6Key financial highlights (2/2) $m Selling and Marketing Expenses 6 64 Q3 2021 219 9M 2021 -68% -49% 20 Q3 2022 112 9M 2022 Source: Company information (unaudited) $m G&A Expenses 5 Q3 2021 10 9M 2021 >100% >100% 14 Q3 2022 28 9M 2022 $m Total Costs and Expenses, excl. D&A 226 Q3 2021 445 9M 2021 -66% -42% 76 Q3 2022 256 9M 2022 nexters Selling and marketing expenses decreased by 49% YoY in 9M 2022 and by 68% in Q3 2022 mainly due to the massive scaling of UA investments into new players both in 9M 2021 and Q3 2021 amplified by a substantial decrease in UA investments in 9M 2022 and Q3 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 $17m in 9M 2022 and by $9m in Q3 2022 driven by (i) the loss on disposal of discontinued operations; ii) expected credit losses associated with loans provided to equity associates; iii) an increase in personnel and other expenses (either due to increased operation scale during 2H 2021, special costs related to personnel relocation and/or costs related to the reduction in headcount)#7Key operating highlights '000 users Monthly Paying Users (¹) 7 371 Q3 2021 361 9M 2021 -18% -6% 305 Q3 2022 341 9M 2022 $/month Average Bookings Per Paying User (2) 128 Q3 2021 123 9M 2021 -15% -13% 109 Q3 2022 107 9M 2022 $m Bookings 151 Q3 2021 418 9M 2021 -31% -18% 105 Q3 2022 343 9M 2022 Source: Company information (unaudited) The Company defines Monthly Paying Users, or MPUS, as the number of individuals who made a purchase of a virtual item at least once on a particular platform in the 30-day period ending with the measurement date; Quarterly MPU is the average of MPUS for each month for the respective quarter (1) (2) The Company defines Average Bookings Per Paying User, or ABPPU, as its total Bookings attributable to in-game purchases in a given period, divided by the number of months in that period, divided by the average number of MPUS during the period nexters 2021 was characterized by a relatively high UA investment, which led to high growth in MPUs. The decrease in UA investments for the majority of 2022 resulted in a corresponding decrease in MPUs#8Platform and geographic split 8 36% 1) 2) Split by Platform (¹) Mobile Desktop 9M 2022 64% US 26% Split by Geography (¹) Europe 20% 9M 2022 Asia 21% 33% Other (2) Source: Company information (unaudited) Corresponding shares are calculated based on sales contracts generated from in-game purchases and in-game advertising for a given period Starting Q2 2022 the FSU category was merged into Other due to the fact that its share in the total bookings was substantially decreasing over time and it does not have any strategic importance going forward as a result of all the investments into the user acquisition have been suspended since February 2022. nexters The share of desktop versions of our games increased by 4 p.p. in 9M 2022 enabling us to access a wider audience and expanding our addressable market Split of bookings by geography in 9M 2022 remained broadly similar to the split in 9M 2021 with some increase of USA and Asia shares#93 Appendix#10Balance Sheet ($ 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 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 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 10 Source: Company information (unaudited) Sep 30, 2022 680 14,297 17,719 49,241 96,421 1,670 24 1,960 25,625 207,637 3,267 36,513 594 131,526 3,421 175,321 382,958 169,625 (243,234) (73,609) (73,609) 602 103,273 13,641 14,780 12,454 144,750 715 16,977 1,381 6,776 285,968 311,817 456,567 382,958 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 nexters 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#11Profit 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 Share listing expense 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 Profit/(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$(¹) Source: Company information (unaudited) (1) Based on a weighted average number of ordinary shares for basic and diluted earnings per share of 20,000 9M 2022 376,638 (102,710) (14,481) (111,561) (27,660) (256,412) (3,508) 116,718 (1,412) 2,486 (5,845) 111,947 (4,172) 107,775 (23,405) 84,370 84,263 107 2,307 86,677 86,570 107 0.43 9M 2021 311,510 (84,707) (5,540) (219,154) (10,348) (125,438) (445,187) (358) (134,035) (1,918) 13,637 (122,316) (788) (123,104) (12,391) (135,495) (135,495) (392) (135,887) (135,887) (0.77) Q3 2022 124,801 (33,871) (7,884) (20,240) (13,980) (75,975) (1,221) 47,605 (1,805) (4,782) (4,205) 36,813 (2,147) 34,666 (3,034) 31,632 31,200 432 (870) 30,762 30,330 432 0.16 nexters Q3 2021 115,177 (30,717) (1,745) (63,682) (4,873) (125,438) (226,455) (110) (111,388) (800) 13,637 (98,551) (264) (98,815) (4,886) (103,701) (103,701) (142) (103,843) (103,843) (0.59)#12Cash Flow Statement ($ 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 Lease modification gain Loss on sale of discontinued operations 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 Disposal of discontinued operations, net of cash disposed of 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 Cash acquired in the Transaction 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 Source: Company information (unaudited) 9M 2022 84,370 5,359 3,007 5,845 5,868 402 492 (2,486) 172 (871) 102 (27) 4,969 2,338 4,409 113,949 20,112 (33,440) 8,852 (9,560) (14,036) (633) 99,280 (91) (840) (54,112) (17,970) (31,489) 307 (4,529) (108,724) (1,900) 374 (102) (1,628) (11,072) 142,802 (204) 131,526 9M 2021 (135,495) 1,713 126,349 | || | (13,637) 54 1,821 845 (18,350) (23,597) 106,712 (15,261) 12,480 80,334 (135) 61,849 (145) (710) (1,240) T 8 (2,087) (1,367) (49) (54) (155,684) 119,659 (37,495) 22,267 84,557 (1,371) 105,453 Q3 2022 31,632 1,742 978 4,205 2,009 89 251 4,782 71 (537) 25 (27) 4,969 1,559 2,317 54,065 9,019 (20,066) 10,980 6,208 6,141 (431) 59,775 16 (324) (4,090) (2,970) (13,703) 182 (4,529) (25,418) (462) 209 (25) (278) 34,079 99,077 (1,630) 131,526 Q3 2021 (103,701) 645 125,644 | | | | (13,637) | | + | 4 743 291 9,989 (7,932) 34,990 16,341 (2,241) 41,158 (105) 51,042 (55) (261) 282 (34) (427) (4) (105,150) 119,659 14,078 65,086 40,898 (531) 105,453 nexters#13Reconciliation of the net income/loss to the Adjusted EBITDA (US$ million) Net income/(loss) Add back: Other comprehensive (income)/loss Loss on sale of discontinued operations 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 Listing expense D&A Share based payments Impairment of intangible assets Adjusted EBITDA 13 Source: Company information (unaudited) Q3 2022 31 0.9 5 3 2 2 5 4 1 1 0.3 55 Q3 2021 (104) 0.1 5 0.3 0.8 (14) 125 0.1 0.2 14 9M 2022 87 (2) 5 23 4 1 (2) 9 4 3 0.5 129 nexters 9M 2021 (136) 0.4 12 0.8 2 (14) 125 0.4 0.9 (7)