Investor Presentaiton

Despite Claims of "Change", Governance Remains Poor Executive compensation program remains poorly constructed - NEOs and directors were paid over $38 million in fiscal 2019 while stock declined ~65% • Governance provisions limit shareholder rights Bylaws and Charter require 80% shareholder approval for amendments - No right to call special meetings No right to act by written consent - Director removal requires 80% of shareholder approval Proxy put in 2021 bond that practically precludes a shareholder from nominating a majority slate absent a willingness to refinance the bond (currently trading at $0.74) restore GameStop Source: Company's public filings. 29

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