Investor Presentaiton

Continuity Has Little Value When Performance is Bad 2019 comparable same-store guidance 0% -5% -5% -5% -7% -10% -13% -10% -15% -10% -11% 13% -16% -19% -20% -16% -19% -19% -19.4% -19% -21% -25% Q4 2018 Q1 2019 Q2 2019 Q3 2019 Holdiay Outcome sales update -High Low Analyst projections Company revised its comparable same store sales estimate three times in four months... ($ in millions) Year end 2019 liquidity guidance $1,200 $1,100 $1,100 $1,000 $1,000 $900 $900 $800 $700 $770 $600 Q3 2019 Holdiay sales update Outcome High Low ...and missed its liquidity target by $130mm after providing guidance just 19 days earlier Long-tenured Board that touts the value of their experience and knowledge of business was unable to support incoming management with information to avoid embarrassing forecasting issues restore Source: GameStop earnings releases, GameStop press releases, Wall Street research. Wall Street research includes Jefferies, Bank of America and Credit Suisse. GameStop 63

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