Investor Presentaiton

Executive Summary • The Company's May 21, 2020 shareholder presentation, put forth by the newly reconstituted Board, shows that the Board's behavior has not changed despite recent Board changes • - The Board seems to have intentionally manipulated its performance analysis in order to claim its performance is better than it is - eliminating the first two days of trading after the Company announced its new strategy during which the stock declined 10%, switching to a new comparison index and comparing itself to a new peer group(1) The Board takes credit for retiring notes that were maturing in fiscal 2019 and for ending fiscal 2019 with $500 million in cash (even though it started fiscal 2019 with $1.6 billion in cash) The New Board's presentation fails to address many of the key issues and facts raised by shareholders that are relevant to the important question of whether more change is required The New Board's disheartening presentation is further evidence that more change is needed - Shareholders deserve transparency and objectivity from the Board Instead, the New Board seemed content to make disingenuous arguments and manipulate data in its presentation restore GameStop The 2019 peer group includes Abercrombie & Fitch, Bed Bath & Beyond, Kohl's, O'Reilly Automotive, Advance Auto Parts, Dick's Sporting Goods, L Brands, Ross Stores, AutoZone, Foot Locker, Nordstrom, Tiffany & Co., Barnes & Noble, Gap, Office Depot and Williams-Sonoma. In September 2019, the Company switched its peer group to include Abercrombie & Fitch, Ascena Retail Group, Bed Bath & Beyond, Designer Brands, Dick's Sporting Goods, Foot Locker, Gap, Nordstrom, Office Depot, Signet Jewelers, The Michaels Companies, Urban Outfitters and Williams-Sonoma, which conveniently include companies that are nearing bankruptcy. 2

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