Investor Presentaiton

GameStop Stock Underperformed For At Least A Decade Total Shareholder Returns Over the Ten Years Prior to Our Cooperation Agreement (4/1/19) • • GameStop's stock underperformed for years Shareholders lost billions as the Company allocated capital poorly and operated inefficiently GameStop reacted slowly and minimally to the change in technology and physical retailing In early 2019, Permit and Hestia engaged with GameStop in an effort to promote change S&P 500 Dow Jones Specialty Retailers 2019 Peer Group 2020 Peer Group restore GameStop Source: FactSet. Note: 2019 and 2020 Peer Group as defined on page 5. Peers are market-cap weighted. GameStop 45% 67% 201% 336% 468% -100% 0% 100% 200% 300% 400% 500% TSR Declined -45% over Ten Years 10

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