Embracer Group Mergers and Acquisitions Presentation Deck

Asmodee's development business model is a << low risk » model since the Group generates profits within 1st print run Sources: Note: Development costs Games designers' wages Graphic designer costs c.€150k development costs Bain & Co (1) Manufacturer's Suggested Retail Price 1st run print economics €30 MSRP(1) per game €15 sales per game €10.5 business margin (70%) €9 margin contribution after shipping & royalties X c.30k units sold as 1st print run c.€270k margin on 1st print run Low development costs / breakeven point ensuring profitability of any new game published EMBRACER+ GROUP 18

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