Embracer Group Mergers and Acquisitions Presentation Deck

Deal terms 31 WK KINGDOMS PURCHASE PRICE DE 320M $31m with a corresponding Enterprise Value of $28m on a cash and debt free basis Paid with $20m in cash and $11m in shares Acquired from founders: Kenshi Arasaki (CEO), Wilkins Chung (non- active), Eric Diep (non-active) and financial investors TEN YEAR ALIGNMENT 4 Up to $74m in additional consideration paid in cash and shares over ten years, mainly conditioned on cumulative EBIT targets with thresholds in years 3, 5 and 10 Maximum earnout achieved by reaching cumulative EBIT in year 10 of $200m or more AYAWAZI WWW A Thinking Ape remains independent in the DECA operating group with continued focus on F2P games EMBRACER+ GROUP 71 4

View entire presentation