Investor Presentaiton

GameStop's Claims Are Misleading GameStop Claim FACTS • GameStop has undertaken • sufficient change Change in management has not produced positive financial, TSR, morale or outlook changes Confuses movement for progress • High short interest suggests shareholders remain unconvinced • GameStop needs constructive disruption More change would be disruptive • Trend lines all heading in wrong direction • Board remains retail centric and lacks sufficient capital allocation, turnaround experience and "skin in the game" GameStop claims shareholders should be passive bystanders and have no place on a Board; we believe our perspective is critical to proper Board deliberations Hestia and Permit nominees • Our nominees have decades of financial, capital markets and turnaround experience do not have relevant skills • restore GameStop Source: Company's public filings. Directors with skin in the game will make the Board start acting like owners instead of professional managers 61

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