Investor Presentation

STATUTORY TO NORMALISED PROFIT & LOSS $'000 2020 2021 1H 2021 1H 2022 Revenue Reported Revenue 212,738 98,152 46,443 53,003 Normalised revenue adjustment (141,635) Normalised Revenue 71,104 98,152 46,443 53,003 Gross Profit Reported gross profit 91,694 39,232 15,716 18,260 Normalised gross profit adjustment (68,613) (175) 721 Normalised Gross Profit 23,080 39,232 15,541 18,981 Adjusted EBITDA Reported Adjusted EBITDA 80,531 110,818 118,332 5,627 Normalised Adjusted EBITDA adjustment (64,748) (85,0899) (105,764) 1,191 Normalised Adjusted EBITDA 15,783 25,729 12,568 6,818 Devolver Digital Investor Presentation This table presents the adjustments to 'normalised' revenue, gross profit and Adjusted EBITDA. The outperformance element in FY20 has been removed (given the significant success of Fall Guys), including initial budget numbers only. The gain on the sale of the publishing rights in April 2021 is also removed from the analysis. The Adjusted EBITDA adjustment also adds back Fall Guys-related founder bonuses in 1H 2021. The $1.2 million add back to Adjusted EBITDA in 1H 2022 is made up of US$0.72 million from the impairment on a cancelled game and US$0.45 million of non-recurring professional fees. D 13

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