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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED © 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVEDPRIVATE AND CONFIDENTIAL FY26 FINANCIAL RESULTS FOR THE FINANCIAL YEAR 1 JUNE 2025 TO 31 MAY 2026 SEPTEMBER 2026
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED AGENDA 2 Strategy and Focus Areas FY26 Headlines & Financials Our Franchises Leadership Recap & Update Future Games Outlook & Wrap-Up Q&A
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED LEADERSHIP RECAP AND UPDATE DRIVING OUR NEXT PHASE OF GROWTH 3 Executive Board established June 2025 Jo Cooke joined as CMO August 2025 Jonny Watts stepped down as CEO January 2026 Jo promoted to CEO January 2026 Dan Lazarides joined as CMO August 2026 David Braben transitions to a NED role October 2026
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED STRATEGY AND FOCUS AREAS 4 Continue to nurture our games with strong and regular updates and PDLC. Deepen our understanding and engagement of our players to deliver more and retain them for longer. Grow our CMS portfolio with existing franchises and introducing new IP . Continue to invest and develop our technology platform to set us aside from our competitors and improve efficiencies. Invest in our people to ensure retention of talent and build expertise from the ground up with our graduate program. We are strengthening our position as a world leader in CMS games by nurturing our existing franchises and developing new games. We are building on our experience and technology, putting our players first, and utilising our talented teams of people.
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED FY26 HEADLINES: EVOLUTION AND GROWTH 5 OUR CMS STRATEGY DELIVERED RECORD FINANCIAL PERFORMANCE IN FY26 • Revenue grew 16% to £104.8 million. • Adjusted Operating Profit grew 62% to £21.4 million, a Company record. • IFRS Operating profit grew 97% to £25.0 million, a Company record. • Cash increased to £44.0 million, despite investing £17.5 million in Frontier shares during the year. • Excluding this investment, cash increased by £19.0 million, a Company record. • Cash at 31 August 2026 of £51.4 million. A £5.0 million special dividend will be paid on 9 October 2026. A STRONG ROADMAP OF NEW CONTENT AND NEW CMS GAMES • FY27: Planet Zoo 2 is coming 13 October 2026 and Warhammer 40,000: Chaos Gate – Deathwatch is also scheduled for release in FY27. • FY28: a new own-IP CMS game will establish a further Planet franchise. • FY29 and beyond: creating and nurturing high-quality and sustainable evergreen game franchises, with an average release cadence of one new CMS game per year. • As announced on 3 September 2026, we have signed an agreement with Disney to develop and publish a new game which will draw on Disney’s iconic portfolio of IP.
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED FY26 FINANCIAL RESULTS 6 £m FY25 FY26 Change Change % Revenue £90.6m £104.8m +£14.2m +16% Gross Profit £63.3m £69.9m +£6.6m +10% Gross Margin % 69.9% 66.7% -3.2pp - Gross Operating Costs (£60.8m) (£62.5m) -£1.7m +3% Tax Credits £6.8m £12.8m +£6.0m +88% Other Operating Income £3.9m £1.2m -£2.7m -69% Adjusted Operating Profit * £13.2m £21.4m +£8.2m +62% Adjusted Operating Profit Margin % 14.6% 20.4% +5.9pp - * Adjusted Operating Profit is a non-IFRS measure used by Frontier to assess underlying financial performance. It excludes non-cash development cost accounting adjustments (capitalisation, amortisation and impairment), non-cash share-based payment charges and non-operating items such as restructuring costs. The measure also excludes the impact of the IAS 20 recognition constraints applied to VGEC and RDEC, recognising the full value of credits earned from qualifying expenditure in the period to which they relate. ADJUSTED INCOME STATEMENT
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED FY26 FINANCIAL RESULTS EXPENDITURE CREDITS AND TAX RELIEFS 7 * Adjusted Operating Profit is a non-IFRS measure used by Frontier to assess underlying financial performance. It excludes non-cash development cost accounting adjustments (capitalisation, amortisation and impairment), non-cash share-based payment charges and non-operating items such as restructuring costs. The measure also excludes the impact of the IAS 20 recognition constraints applied to VGEC and RDEC, recognising the full value of credits earned from qualifying expenditure in the period to which they relate. £m FY25 FY26 Video Games Tax Relief (VGTR) 5.3 3.9 Video Games Expenditure Credit (VGEC) - 7.1 Research & Development Expenditure Credit (RDEC) 0.8 0.8 Manitoba Interactive Digital Media Tax Credit (MIDMTC) 0.7 1.0 Total 6.8 12.8 We benefit from four government incentive schemes which provide credits against qualifying expenditure. Under our Adjusted Operating Profit * measure, we recognise the full value of credits earned from qualifying expenditure in the period to which they relate, and regardless of whether under IFRS they are accounted for above, or below, IFRS Operating Profit. We claimed a one-off credit of £4.4 million for the transition from VGTR to VGEC which was accounted for in the FY26 IFRS financial results. We excluded this from the calculation of Adjusted Operating Profit.
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED £21.4m (£0.6m) (£3.1m) £1.2m (£15.5m)£42.5m £61.4m £0.2m (£2.0m) £44.0m £-m £10.0m £20.0m £30.0m £40.0m £50.0m £60.0m £70.0m FY26 FINANCIAL RESULTS 8 * Non-game net capex = building lease payments & non-game capital expenditure net of depreciation and amortisation charges ** Includes the phasing of tax and expenditure credit payments Opening Cash Balance Cash Balance before capital transactions Closing Cash Balance AOP CASH FLOW
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED FY26 FINANCIAL RESULTS CAPITAL ALLOCATION 9 Creating long-term shareholder value • Disciplined investment in the business • Maintaining a strong balance sheet • Returning surplus capital to shareholders where appropriate Share Buyback and EBT purchases • £20.5 million invested in acquiring shares since 1 June 2025 • We believe buybacks are likely to continue to benefit shareholders • We will renew the buyback authority at the AGM in October Special Dividend of £5 million • Reflects the record financial performance and confidence in the Group's financial position and prospects • Cash at 31 August was £51.4 million, up from £44.0 million at year-end
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED OUR WORLD-LEADING PORTFOLIO BY FRANCHISE 10 £161m Revenue 8.2m Units 21 PDLCs £17m Revenue 0.8m Units 3 PDLCs £148m Revenue 6.1m Units 8 PDLCs £104m Revenue 7.5m Units 10 PDLCs £145m Revenue 6.0m Units 2 Major Expansions 11 Ships 5000+ Items £33m Revenue 1.0m Units 5 PDLCs £141m Revenue 5.4m Units 11 PDLCs £62m Revenue 1.4m Units 4 PDLCs £351m Revenue 13.0m Units £161m Revenue 8.2m Units £17m Revenue 0.8m Units £137m Revenue 8.5m Units £145m Revenue 6.0m Units Total Data to 31st August 2026
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED DRIVING SUSTAINABLE REVENUE GROWTH THROUGH OUR CMS STRATEGY 11 THROUGH OUR OWN IP – BUILD OUR PLANET BRAND LIVE LIVE FY28 NEW PLANET CMS THROUGH WORLD-LEADING LICENSED IP – EXTEND OUR REACH LIVE FUTURE DISNEY GAME BEYOND THE THREE CONFIRMED FUTURE CMS GAMES, WE PLAN TO FURTHER EXPAND BOTH OUR OWN-IP PORTFOLIO AND OUR LICENSED-IP PORTFOLIO CRAFTING MARKET LEADING CREATIVE MANAGEMENT SIMULATIONS
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED OUR CMS STRATEGY IS DELIVERING * Chaos Gate, F1 Manager and other revenue 12CMS GAMES GREW 34% IN FY26, REPRESENTING 89% OF TOTAL REVENUE (FY25: 77%) Jurassic World Evolution 58% Planet Zoo 17% Planet Coaster 14% Elite Dangerous 7% Other* 4% Jurassic World Evolution 27% Planet Zoo 25% Planet Coaster 25% ED 7% Other* 16% FY26 FY25
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED NURTURING LIFETIME REVENUE 13 GROW AND RETAIN AUDIENCES TO DRIVE SUSTAINABLE REVENUE GROWTH 01 BUILD DIRECT RELATIONSHIPS WITHPLAYERS TO DRIVE CROSS-SELL /UPSELL AND LTV 02 EXTEND AND DEEPEN ENGAGEMENT THROUGH CONTENT AND LIFECYCLE ECONOMICS 03 OPTIMISE OUR APPROACH ACROSS OUR PORTFOLIO RETAINING OUR PLAYERS 04
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED £-m £50m £100m £150m £200m £250m £300m £350m £400m L Yr1 Yr2 Yr3 Yr4 Yr5 Yr6 Yr7 Yr8 Yr9 Yr10 Planet Coaster Jurassic World Evolution Planet Zoo CMS FRANCHISES – LIFETIME REVENUE 14 Planet Coaster 2 Planet Coaster Console Edition Planet Zoo Console Edition Jurassic World Evolution 2 Data to 31st August 2026 Jurassic World Evolution 3
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED (£20m) £-m £20m £40m £60m £80m £100m £120m £140m £160m Yr-1 L Yr1 Yr2 Yr3 Yr4 Yr5 Yr6 Yr7 Yr8 Yr9 Yr10 Yr11 Planet Coaster Jurassic World Evolution Planet Zoo CMS FRANCHISES – LIFETIME CASH PROFIT 15 Planet Coaster 2 Planet Coaster Console Edition Planet Zoo Console Edition Jurassic World Evolution 2 Data to 31st August 2026 Jurassic World Evolution 3
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED PLANET ZOO: LAUNCH & NURTURE 16 * Revenue less all distribution costs, development costs (base game & PDLC) and marketing costs. - 21 PDLCs launched across PC, PlayStation and Xbox platforms. - 404% ROI across both Base Game and PDLC revenue since launch. - 55:45 ratio for Base Game vs PDLC revenue due to a highly engaged and monetisable base. - A peak of 1m MAU in July 2026 (FY27) following successful Steam promotional activity leading into Planet Zoo 2. ONGOING PDLC SUPPORT THROUGH LIFECYCLE Base Game £89m (55%) PDLC £72m (45%)
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED JWE FRANCHISE: LAUNCH & NURTURE 17 * Revenue less all distribution costs, development costs (base game & PDLC) and marketing costs. - 3 Base Games and 23 PDLCs launched, across PC, PlayStation, Xbox and Nintendo platforms. - 245% ROI across Base Games and PDLC revenue, with a ratio of 75:25 for Base Game vs PDLC. - ROI% will continue to increase due to significant lifecycle and nurture revenue still to come. - June’s Rebirth Expansion is the best performing JWE PDLC yet. - Base Game also launched on Xbox Game Pass in June (FY27). Base Game £262m (75%) PDLC £89m (25%) Major Expansion JWE JWE2 JWE3EXP JWE NSW EXP EXP EXP EXP ONGOING PDLC SUPPORT THROUGH LIFECYCLE JWE2 NSW2 Nintendo Switch EditionNSW
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED OUTLOOK AND WRAP-UP 18 • Our strategic reset in 2023/2024 and refocus onto CMS delivered record financial results in FY26. • We are confident in delivering FY27 in line with expectations. • We have a renewed leadership team to deliver on Frontier’s next phase of growth. • We have a clear plan, and a strong roadmap of new content and new CMS games. FY26 FY27 FY25 FY28 NEW PLANET FRANCHISE OUR RELEASE STRATEGY FY29 DISNEYNEW TITLE FY30 FY26 FY27 FY25 FY28 NEW PLANET FRANCHISE OUR RELEASE STRATEGY FY29 DISNEYNEW TITLE FY30 FY26 FY27 FY25 FY28 NEW PLANET FRANCHISE OUR RELEASE STRATEGY FY29 DISNEY GAME CMS GAME FY30+
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED APPENDIX: FY26 FINANCIALS
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED FY26 FINANCIAL RESULTS INCOME STATEMENT – IFRS 20 £m FY26 FY25 Change Revenue 104.8 90.6 14.2 Cost of sales (34.9) (27.3) (7.6) Gross profit 69.9 63.3 6.6 Gross margin % 67% 70% (3pp) R&D cash spend (39.6) (39.2) (0.4) Capitalised costs 26.0 28.3 (2.3) % capitalised 66% 72% (6pp) Depreciation and software amortisation (0.9) (1.3) 0.4 Amortisation of game developments and technology (17.6) (19.7) 2.1 Net R&D (32.0) (32.0) - Sales and marketing (7.2) (7.7) 0.5 General and admin (16.9) (14.9) (2.0) Total opex (56.1) (54.6) (1.5) Other operating income * 11.3 3.9 7.4 Operating profit 25.0 12.7 12.3 Finance income 1.2 0.8 0.4 Finance costs (0.9) (1.0) 0.1 Income tax credit * 1.9 4.0 (2.1) Net profit 27.3 16.4 10.9 * Other Operating Income in FY26 includes VGEC benefits. In both FY26 and FY25, VGTR benefits are accounted for in the Income Tax Credit line. * **
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED FY26 FINANCIAL RESULTS RECONCILIATION BETWEEN IFRS AND ADJUSTED OPERATING PROFIT 21 * Adjusted Operating Profit is a non-IFRS measure used by Frontier to assess underlying financial performance. It excludes non-cash development cost accounting adjustments (capitalisation, amortisation and impairment), non-cash share-based payment charges and non-operating items such as restructuring costs. The measure also excludes the impact of the IAS 20 recognition constraints applied to VGEC and RDEC, recognising the full value of credits earned from qualifying expenditure in the period to which they relate. £m IFRS Operating Profit 25.0 Amortisation - add back non-cash intangible asset amortisation charges for game developments and game technology 17.6 Capitalisation - deduct capitalised investment costs in game developments and game technology (26.0) Share Charges - Add back non-cash share-based payment expenses 2.1 Tax Credits (Current Year) - Adjustment to record the full benefits of tax and expenditure credits against the expenditure they relate to 0.4 Tax Credits (Prior Years) - Adjustment of tax and expenditure credits of prior years 2.3 Adjusted Operating Profit* 21.4
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED FY26 FINANCIAL RESULTS BALANCE SHEET 22 £m May-26 May-25 Goodwill 6.5 6.5 Intangible assets 49.5 42.0 Tangible assets 3.9 3.8 Lease asset 15.6 17.5 Trade and other receivables 12.4 11.9 Tax and expenditure credit assets 15.3 6.4 Cash 44.0 42.5 Total assets 147.1 130.7 Trade and other payables (13.7) (11.2) Deferred revenue and expenditure credits (7.2) (3.6) Lease liabilities (17.7) (19.5) Tax liabilities (1.4) (1.3) Total liabilities (40.0) (35.5) Net assets 107.0 95.2
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED TAX CREDIT CHANGES: VGTR VGEC The video games tax incentive regime is moving from VGTR to VGEC. New productions have been required to claim under VGEC since 1 April 2025, with all remaining VGTR claims required to transition by 1 April 2027. VGTR Outgoing – closes 1 April 2027 VGEC Incoming – mandatory for new productions QUALIFYING EXPENDITURE Lower of 80% of total core expenditure and 100% of EEA qualifying expenditure CREDIT RATE 25% credit on qualifying expenditure TAX TREATMENT Non-taxable CASH CREDIT ENTITLEMENT Cash credit only available where qualifying losses are surrendered. Profitable trades typically benefit through reduced corporation tax. QUALIFYING EXPENDITURE Lower of 80% of total core expenditure and 100% of UK qualifying expenditure CREDIT RATE 34% expenditure credit on qualifying expenditure TAX TREATMENT Taxable – corporation tax charged on the credit (currently 25%) CASH CREDIT ENTITLEMENT A payable expenditure credit is available regardless of whether the trade is profit or loss making. 20.0% minimum effective net benefit (80% x 25%) 20.4% minimum effective net benefit (80% x 34% less 25% tax) Unchanged under both schemes: any payable credit is received following submission and processing of the corporation tax return.
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED Partial in OOI Partial in OOI ACCOUNTING FOR THE CREDITS: WHERE & WHEN VGTR IAS 12 (Income Taxes) VGEC IAS 20 (Government Grants) VGTR credits are recognised below Operating Profit in Taxation VGEC credits are recognised above Operating Profit in Other Operating Income VGTR Full credit in Income Tax Launch Year (LY) VGEC Credits in Other Operating Income Timing of VGTR under IFRS: Recognised in full in the financial year of the actual expenditure, regardless of whether costs are capitalised or not LY+1 LY+2 LY+3 Timing of VGEC under IFRS: Aligned with the net accounting of the expenditure, including the amortisation profile of any capitalised development costs IFRS OPERATING PROFIT
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED FY26 FINANCIAL RESULTS EXPENDITURE CREDITS AND TAX RELIEFS 25 * Adjusted Operating Profit is a non-IFRS measure used by Frontier to assess underlying financial performance. It excludes non-cash development cost accounting adjustments (capitalisation, amortisation and impairment), non-cash share-based payment charges and non-operating items such as restructuring costs. The measure also excludes the impact of the IAS 20 recognition constraints applied to VGEC and RDEC, recognising the full value of credits earned from qualifying expenditure in the period to which they relate. £m FY25 FY26 In calculating AOP*: Total Credits/Reliefs against expenditure in the period, together with any adjustments from prior periods 6.8 12.8 Less: IFRS accounting adjustments, including deferral to future years - (0.9) - (3.3) Add: One-off Transitional Credit (VGTR VGEC) - + 4.4 Total Credits/Reliefs accounted for under IFRS 5.9 13.9 The split of Credits/Reliefs under IFRS: Expenditure Credits included in Other Operating Income - 10.0 VGTR Credits included in calculating Income Tax under IFRS 5.9 3.9
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© 2026 FRONTIER DEVELOPMENTS PLC. ALL RIGHTS RESERVED The information contained in this confidential document (“Presentation”) has been prepared by Frontier Developments plc (the “Company”). This Presentation has not been approved by an authorised person in accordance with Section 21 of the Financial Services and Markets Act 2000 (“FSMA”) and therefore it is being delivered for information purposes only to a very limited number of persons and companies who are persons who have professional experience in matters relating to investments and who fall within the category of person set out in Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or are high net worth companies within the meaning set out in Article 49 of the Order or are otherwise permitted to receive it. Any other person who receives this Presentation should not rely or act upon it. 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