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CD PROJEKT RED GROUPH1 2026 Earnings 2 S E P T E M B E R 2 0 2 6 Michał Nowakowski | J O I N T C H I E F E X E C U T I V E O F F I C E R , M E M B E R O F T H E B O A R D Piotr Nielubowicz | C H I E F F I N A N C I A L O F F I C E R , M E M B E R O F T H E B O A R D Karolina Gnaś | V I C E P R E S I D E N T , I N V E S T O R R E L A T I O N S `
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TWO GLOBAL FRANCHISES RECORD MILESTONES THE BIGGEST WITCHER SLATE IN OUR HISTORY 2 ` 2
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*as of 3 July 2026 – Cyberpunk 2077 (copies of the game sold separately & in the Ultimate Edition bundle) *as of 2 September 2026 – Cyberpunk 2077: Phantom Liberty (copies of the expansion sold separately & in the Ultimate Edition bundle) 3 ` CYBERPUNK 2077 LIFECYCLE SUPPORT DRIVES MULTI-YEAR SALES
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LICENCING STRATEGY DRIVES THE EXPANSION OF CYBERPUNK IP 4 `
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Edgerunners return this fall ` 5
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6*as of 28 May 2026 (copies of the game sold separately & in GOTY/Complete edition bundles) ` THE WITCHER ENTERS ITS NEXT PHASE BUILDING UPON THE STRONGEST FOUNDATION IN OUR HISTORY 90 MILLION 65 MILLION WITCHER GAMES SOLD WORLDWIDE, INCLUDING: OF THE WITCHER 3: WILD HUNT
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9 ` TARGET RELEASE DATE
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10 ` THE WITCHER: A MAJOR RELEASE EVERY YEAR THROUGH 2028 September 29, 2026 2027 2028 TARGET RELEASE DATE
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Since Opening Night Live our 3 main video assets have had 26 million* total views. 11 ` 11 DEMAND FOR THE WITCHER FRANCHISE REMAINS EXCEPTIONALL Y STRONG *own channels; the data does not include the ONL viewership; data as of August 31st, 2026
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` SHARE OF VOICE (7%)* 12*source: © Fancensus; "share of voice" measures the number of social media post mentions for all PC & console ONL-announced titles between 25th to 26th of August for the following platforms: X, Facebook, Instagram, Reddit, Y ouTube, TikTok THE WITCHER ANNOUNCEMENTS DOMINATE THE GAMESCOM OPENING NIGHT SHOW SHARE OF VOICE (6.7%)*
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` *data collected from all platforms with a wishlisting option for Songs of the Past * 13
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April 30, 2026 975513 163 83 24 19173 1 045July 31, 2026 *e.g. Localization, Central Quality Assurance, Data, Insights & Experiences, Motion Capture The Witcher 4 Cyberpunk 2 Sirius Hadar Shared Services* Other October 31, 2024 519 184 84 196 3033 No. of developers 14 ` DEVELOPMENT TEAMS ENGAGED IN ONGOING PROJECTS
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15 ` O F T H E C D P R O J E K T R E D G R O U P Financial Results
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All figures in PLN thousands H1 2026 vs. H1 2026 vs. H1 2025* H1 2026 H1 2025 [PLN] H1 2025 [%] Sales revenue 355 021 435 308 80 287 23% – Cyberpunk IP - own projects 279 933 268 598 -11 335 -4% – Witcher IP - own projects 65 499 71 726 6 227 10% – Revenues from IP licensing 9 375 94 817 85 442 911% Cost of sales 37 996 29 390 -8 606 -23% Gross profit on sales 317 025 405 918 88 893 28% Operating costs 150 817 160 579 9 762 6% Selling expenses 58 675 57 108 -1 567 -3% Administrative expenses 96 329 109 545 13 216 14% – Research works costs 17 878 18 999 1 121 6% Other operating income less expenses 4 187 6 074 1 887 45% EBIT 166 208 245 339 79 131 48% Financial income less costs 35 655 29 273 -6 382 -18% Income tax 20 236 25 505 5 269 26% Net profit on continuing operations 181 627 249 107 67 480 37% Net profitability (continuing operations) 51.2% 57.2% *restated data 16 ` CD PROJEKT RED GROUP — PROFIT AND LOSS ACCOUNT
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All figures in PLN thousands CD PROJEKT RED GROUP * Revenues - net profit vs. costs and expenses 17 ` 37% 49% 51% 57% * CD PROJEKT RED segment for H1 2023 and H1 2024, CD PROJEKT RED Group continued operations for H1 2025 and H1 2026 X% Net profit / revenuesCosts & expensesNet profit
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CD PROJEKT RED GROUP — ASSETS Assets 31.12.2025 30.06.2026 change change % Non-current assets 2 168 647 2 618 100 449 453 21% Expenditure on development projects 1 148 143 1 512 454 364 311 32% – New development during H1 2026 384 953 - – Amortization during H1 2026 20 642 - Other financial assets * 371 566 383 676 12 110 3% Property, plant and equipment, investment properties 366 020 434 655 68 635 19% Deferred tax assets 114 603 102 352 -12 251 -11% Other non-current assets 168 315 184 963 16 648 10% Current assets 1 334 673 1 169 593 -165 080 -12% Trade receivables 125 441 160 378 34 937 28% Other financial assets * 332 597 464 874 132 277 40% Cash and bank deposits * 634 928 441 538 -193 390 -30% Other current assets 241 707 102 803 -138 904 -57% Total assets 3 503 320 3 787 693 284 373 8% *Cash, bank deposits and bonds – total 1 324 910 1 285 646 -39 264 -3% All figures in PLN thousands 18 `
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Equity and liabilities 31.12.2025 30.06.2026 change change % Equity 3 289 859 3 560 718 270 859 8% Liabilities 213 461 226 975 13 514 6% Liabilities 85 432 120 817 35 385 41% Deferred income 17 746 11 795 -5 951 -34% Provisions 110 283 94 363 -15 920 -14% Total liabilities and equity 3 503 320 3 787 693 284 373 8% All figures in PLN thousands CD PROJEKT RED GROUP — EQUITY AND LIABILITIES 19 `
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Cost of product maintenance - released products (P&L - Selling costs) Research works costs - new projects (P&L - G&A costs) Development expenditures - new products (Assets - capitalised) CD PROJEKT RED GROUP Research, development & product maintenance costs All figures in PLN thousands 0 25 000 100 000 175 000 225 000 Q1 2025 Q2 2025 Q3 2025 Q4 2025 200 000 150 000 125 000 75 000 50 000 Q1 2026 250 000 20 ` Q2 2026
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CD PROJEKT RED GROUP Main changes in cash, deposits & bonds All figures in PLN thousands * including receivables, liabilities, provisions, inventories, prepayments, deferred income and tax settlements based on reported cash flow calculation Cash, deposits and bonds 2026.01.01 Net profit from continuing operation Amortization, depreciation, costs of incentive programs Acquisition of intangible and tangible assets Working capital changes* Other (cumulated) “Ongoing business” cash flow Cash, deposits and bonds 2026.06.30 GOG shares sale less transaction costs Expenditure on development projects 21 ` 1 450 000 1 200 000 1 350 000 1 300 000 1 250 000 1 500 000 1 400 000 1 550 000 1 600 000 1 650 000 1 700 000 1 324 910 249 107 46 554 -59 215 -21 574 14 054 228 926 87 390 -355 580 1 285 646 Total cash from “ongoing business”: +228 926 PLN Total decrease (including development expenses): -39 264 PLN
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H1 20262025 All figures in PLN thousands CD PROJEKT RED GROUP — INCENTIVE PROGRAM B Consolidated net profit from continuing operations, adjusted by costs of Incentive Program B 1 000 000 2 000 000 3 000 000 4 000 000 14% 2023 2024 Remaining results 22 ` 0 5 000 000 59% 80% 95% Stage 1 (2023-2026) Stage 2 (2024-2027) Stage 3 (2025-2028) Stage 4 (2026-2029)
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Thank you ir@cdprojekt.com karolina.gnas@cdprojekt.com 23 `
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Legal Disclaimer This presentation was created by CD PROJEKT RED S.A. (“CD PROJEKT RED”). Data contained in this presentation is valid as of the day of its preparation. Consequently, this presentation will not be subject to changes, updates or modifications to account for events which might occur after this day. The presentation outlines the activities of CD PROJEKT RED and the CD PROJEKT RED Group. It is purely informative in scope and should not be regarded as offering investment advice. Information contained in this presentation must not be construed as assurances, projections or forecasts regarding future accomplishments or earnings of CD PROJEKT RED or of the CD PROJEKT RED Group. Although due diligence was applied in preparing this presentation, it may nevertheless contain ambiguities. Under no circumstances should this presentation be construed as a purchase recommendation, an invitation to subscribe to, or an offer to recommend purchase or subscription to any securities issued by CD PROJEKT RED. The recipients of this presentation bear all responsibility for their own analyses and assessments regarding the status of the market as well as the condition and potential future earnings of CD PROJEKT RED which may be based on information contained herein. CD PROJEKT RED wishes to advise all parties accessing this presentation that the sole authoritative source of information concerning the Company’s earnings, projections, events and indicators is represented by the current and periodic reports published by CD PROJEKT RED in the course of discharging its reporting obligations under Polish law. This presentation is not to be circulated in territories and states where public circulation and sharing of information contained herein may be subject to legal restrictions. Parties accessing this presentation are advised to familiarize themselves with any such restrictions beforehand. CD PROJEKT RED S.A. or any of its affiliates in the capital group (“CD PROJEKT RED”) with regards to any kind of, either sponsored or unsponsored ADR (“alternative depositary receipts”) or any other financial instruments of this kind (“Financial Instruments”) does not (i) make any warranties, expressed or implied, as to the accuracy, adequacy or completeness or any of the information connected with the Financial Instruments, (ii) support or encourage the creation of any kind of the Financial Instruments. CD PROJEKT RED does not represent any depository institution, bank or anyone nor should any such entity/person. CD PROJEKT RED shall have no responsibility or liability for the Financial Instruments. In case of any question, the holder of any Financial Instruments (as defined above) shall receive all the essential information at the institution issuing such Financial Instruments or any institution supporting such issuance of the Financial Instruments. 24 `