Interim report
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Wrocław, 24 August 2026 for the period 01.01.2026 – 30.06.2026 1H 2026 Interim condensed consolidated financial statement Of ten square games s.A. Group This English language translation has been prepared solely for the convenience of English speaking readers. Despite all the efforts devoted to this translation discrepancies, omissions or approximations may exist. In case of any differences between the Polish and the English versions, the Polish version shall prevail. Ten Square Games S.A., its representatives and employees decline all responsibility in this regard.
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SELECTED FINANCIAL DATA CONSOLIDATED DATA STATEMENT OF FINANCIAL POSITION PLN EUR 30.06.2026 31.12.2025 30.06.2026 31.12.2025 Fixed assets 192,892,382 194,253,018 44,897,326 45,958,553 Current assets 128,806,351 178,789,881 29,980,763 42,300,111 Equity 190,527,836 220,367,790 44,346,958 52,137,079 Long-term liabilities 5,847,425 7,090,393 1,361,037 1,677,525 Short-term liabilities 125,323,472 145,584,716 29,170,094 34,444,060 STATEMENT OF COMPREHENSIVE INCOME PLN EUR for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Bookings 191,680,595 171,857,045 45,077,982 40,716,699 Revenues 192,328,397 181,088,144 45,230,327 42,903,749 Costs of services sold 32,431,411 29,808,823 7,626,972 7,062,363 Operating profit/loss 30,899,259 54,280,387 7,266,652 12,860,213 Gross profit/loss 32,545,707 52,706,934 7,653,851 12,487,428 Net profit/loss 28,226,369 47,442,931 6,638,062 11,240,270 EBITDA 37,944,369 60,566,905 8,923,468 14,349,627 Adjusted EBITDA 40,305,838 57,554,614 9,478,820 13,635,949 CASH FLOW STATEMENT PLN EUR for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Net cash flows from operating activity 39,369,457 56,314,893 9,258,609 13,342,232 Net cash flows from investment activity -20,961,271 -16,541,605 -4,929,512 -3,919,069 Net cash flows from financial activity -65,374,791 -101,587,006 -15,374,345 -24,068,188 2 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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SPECIFICATION 1Q 2026 2Q 2026 TOTAL 1HY 2026 Operating profit (EBIT) 14,483,480 16,415,779 30,899,259 Amortization and depreciation (excluding capitalized portion) 3,168,426 3,179,452 6,347,878 Write-downs for impairment 0 697,232 697,232 EBITDA 17,651,906 20,292,463 37,944,369 Non-cash impact of incentive scheme (excluding capitalized portion) 995,587 1,355,586 2,351,173 Deferred result (revenue minus commissions) – consumables -1,473,145 586,647 -886,498 Deferred result (revenue minus commissions) – durables 1,701,293 -804,499 896,794 Costs of potential and completed acquisitions (M&A) and review of strategic options 0 0 0 Adjusted EBITDA 18,875,641 21,430,197 40,305,838 SPECIFICATION 1Q 2025 2Q 2025 TOTAL 1HY 2025 3Q 2025 4Q 2025 TOTAL 2025 Operating profit (EBIT) 30,618,819 23,661,566 54,280,385 21,677,546 11,742,357 87,700,288 Amortization and depreciation (excluding capitalized portion) 3,173,305 3,113,215 6,286,520 3,280,113 3,226,052 12,792,685 Write-downs for impairment 0 0 0 0 0 0 EBITDA 33,792,124 26,774,781 60,566,905 24,957,659 14,968,409 100,492,973 Non-cash impact of incentive scheme (excluding capitalized portion) 495,000 1,605,476 2,100,476 1,050,237 -307,479 2,843,234 Deferred result (revenue minus commissions) – consumables -500,670 2,485,739 1,985,069 -1,015,236 722,306 1,692,139 Deferred result (revenue minus commissions) – durables -3,267,444 -3,820,779 -7,088,223 -2,912,650 3,137,077 -6,863,796 Costs of potential and completed acquisitions (M&A) and review of strategic options -9,613 0 -9,613 0 0 -9,613 Adjusted EBITDA 30,509,397 27,045,217 57,554,614 22,080,010 18,520,313 98,154,937 In order to convert the balance-sheet data, the average exchange rate quoted by the National Bank of Poland at the balance sheet date was adopted. In order to convert the positions under the comprehensive income statement and the cash flow statement, the exchange rate which is the arithmetical average of the exchange rates quoted by the National Bank of Poland at the last day of each month of a given period was adopted. EUR/PLN exchange rate 2026 2025 for the balance-sheet data 4.2963 4.2267 for the data from the profit and loss statement and cash flow statement 4.2522 4.2208 3 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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SELECTED FINANCIAL DATA 2 I. GENERAL INFORMATION 6 1. COMPANY DATA 7 2. CAPITAL GROUP 8 3. SHAREHOLDING STRUCTURE 9 4. COMPOSITION OF THE COMPANY’S BODIES AS AT 24.08.2026 12 5. FORM OF CONDENSED FINANCIAL STATEMENT 13 6. STATEMENT OF THE MANAGEMENT BOARD 15 II. INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT 16 1. INTERIM CONDENSED CONSOLIDATED COMPREHENSIVE INCOME STATEMENT 17 1.1. INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL SITUATION [IFRS 18] 19 2. INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL SITUATION 20 3. INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 22 4. INTERIM CONDENSED CONSOLIDATED CASH FLOW STATEMENT 24 III. ACCOUNTING PRINCIPLES 26 1. COMPLIANCE WITH THE INTERNATIONAL ACCOUNTING STANDARDS 27 2. CHANGES IN THE ACCOUNTING POLICY 28 3. DESCRIPTION OF THE ADOPTED ACCOUNTING PRINCIPLES (POLICY) 29 3.1. Subsidiaries and associates 29 3.2. Earnings per share 30 3.3. Cash flows 30 3.4. Revenues and costs of operating activity 31 3.5. Revenues and costs of financial activity 33 3.6. Income tax 33 3.7. Tangible fixed assets 35 3.8. Intangible assets 36 3.9. Lease 38 3.10. Financial instruments 39 3.11. Transactions in foreign currencies 41 3.12. Receivables 41 3.13. Equity 42 3.14. Share-based payments 42 3.15. Payment of dividends 42 3.16. Provisions 42 3.17. Liabilities 43 3.18. Transactions with related parties 43 3.19. Significant values based on professional judgement and estimates 43 IV. ADDITIONAL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT 46 1. REVENUES 47 1.1. Information on operating segments and key performance indicators 48 1.2. Revenues – source 49 1.3. Revenues – games 50 1.4. Revenues by business partner 53 1.5. Revenues – distribution channel 53 1.6. Revenues – geographical breakdown 54 TABLE OF CONTENTS 4 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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2. OPERATING COSTS 55 3. OTHER OPERATING COSTS AND REVENUES 59 4. FINANCIAL INCOME AND EXPENSE 60 5. CURRENT AND DEFERRED TAX 61 6. DIVISION OF PROFIT FOR 2025 63 7. CHANGES IN TANGIBLE FIXED ASSETS 64 8. CHANGES IN INTANGIBLE ASSETS AND GOODWILL 67 9. OTHER FINANCIAL ASSETS 72 10. RECEIVABLES 73 10.1. Trade receivables 73 10.2. Other receivables 74 10.3. Accruals 74 11. TRADE LIABILITIES 75 12. OTHER LIABILITIES 76 13. PROVISIONS FOR EMPLOYEE BENEFITS 77 14. INFORMATION ON AFFILIATED ENTITIES, INCLUDING INFORMATION ON REMUNERATION OF SENIOR MANAGEMENT AND THE SUPERVISORY BOARD 79 14.1. Management personnel 79 14.2. Other affiliated persons 81 15. INCENTIVE PROGRAMS BASED ON SHARES 82 16. LITIGATION 85 17. OTHER IMPORTANT EVENTS 85 18. EVENTS AFTER BALANCE SHEET DATE 85 V. INTERIM CONDENSED STANDALONE FINANCIAL STATEMENT 86 1. INTERIM CONDENSED STANDALONE STATEMENT OF COMPREHENSIVE INCOME 87 1.2. INTERIM CONDENSED STANDALONE STATEMENT OF COMPREHENSIVE INCOME [IFRS 18] 89 2. INTERIM CONDENSED STANDALONE STATEMENT OF FINANCIAL SITUATION 90 3. INTERIM CONDENSED STANDALONE STATEMENT OF CHANGES IN EQUITY 92 4. INTERIM CONDENSED STANDALONE CASH FLOW STATEMENT 94 VI. ADDITIONAL NOTES TO THE STANDALONE FINANCIAL STATEMENT 96 1. SALES REVENUES 97 1.1. Revenues by source 97 1.2. Revenues by games 98 1.3. Revenues by business partner 98 1.4. Revenues by distribution channel 99 1.5. Revenues – geographical division 99 2. OPERATING COSTS 100 3. FINANCIAL REVENUES 101 4. INCOME TAX AND DEFERRED TAX 102 APPROVAL OF THE FINANCIAL STATEMENT 106 5 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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GENERAL INFORMATION I
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Ten Square Games Sp. z o. o. was registered on 21 October 2011, entry no. 0000399940. Ten Square Games S.A. was established through the transformation of Ten Square Games Sp. z o. o., which was registered by the District Court on 20 November 2017. 1. COMPANY DATA Name Ten Square Games Legal form Joint Stock Company Registered seat 45 Traugutta Street, 50-416 Wroclaw Registration country Poland Core business activity publishing activity with regard to computer games (58.21.Z) Authority keeping the register District Court, VI Commercial Division of the National Court Register entry no. 704863 Statistical Business Number (REGON) 21744780 Tax Identification Number (NIP) 8982196752 Company duration indefinite 7 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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2. CAPITAL GROUP Ten Square Games S.A. is the Parent Entity in the Capital Group, which prepares consolidated financial statements. The subsidiaries shown on the graph are subject to the consolidated financial statement since the date of a given company’s establishment/acquisition of control over the company until the date of loss of control over the company. As of 31.12.2025 and 24.08.2026: PLAY COOL ZOMBIE SPORT GAMES SP. Z O.O. RORTOS S.R.L. GAMESTURE SP. Z O.O. 100% 100% 36.9% As at 30 September 2025, the closing balance sheet of the subsidiary Ten Square Games Germany GmbH was prepared and approved. The Group is currently awaiting confirmation of the closing of tax settlements, which must be issued by the German tax office, as well as the final removal of the company from the commercial register. The liquidation was carried out at the initiative of the Parent Company and in accordance with locally applicable regulations. The closed company had not conducted any operating activities for more than a year before the preparation of the closing balance sheet; therefore, its closure had no impact on the Group’s operations. 8 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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SHAREHOLDER number of shares as at 31.12.2025 % share in basic capital number of votes at GSM % share in the number of votes Shareholders’ Agreement [1] 1,969,176 30.4% 1,969,176 30.4% own shares purchased by the Company 116,135 1.8% 116,135 1.8% others (of which none holds more than 5% of shares) 4,390,689 67.8% 4,390,689 67.8% TOTAL 6,476,000 100.0% 6,476,000 100.0% 3. SHAREHOLDING STRUCTURE 3.1. List of shareholders holding, directly or indirectly through subsidiaries, at least 5% of the total number of votes at the issuer’s general meeting of shareholders SHAREHOLDER number of shares as at 24.08.2026 and 30.06.2026 % share in basic capital number of votes at GSM % share in the number of votes Shareholders’ Agreement [1] 1,969,176 30.4% 1,969,176 30.4% own shares purchased by the Company 101,435 1.6% 101,435 1.6% others (of which none holds more than 5% of shares) 4,405,389 68.0% 4,405,389 68.0% TOTAL 6,476,000 100.0% 6,476,000 100.0% [1] Shareholders’ Agreement of October 21, 2019 regarding the pursuit of a sustainable policy towards the Company and the consistent exercise of voting rights attached to the Company’s shares (current report No. 30/2019). The parties to the Shareholders’ Agreement include, among others: Fundacje Rodzinne (Family Foundations) related to Maciej Popowicz and Arkadiusz Pernal, founders of the Company. 9 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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3.2. List of shares held by members of the Management Board and Supervisory Board SHAREHOLDER number of shares as at 24.08.2026 and 30.06.2026 % share in basic capital number of votes at GSM % share in the number of votes President of the Management Board – Andrzej Ilczuk 21,738 0.3% 21,738 0.3% Member of the Management Board – Janusz Dziemidowicz 93,449 1.4% 93,449 1.4% Member of the Management Board – Magdalena Jurewicz 24,624 0.4% 24,624 0.4% Member of the Supervisory Board – Maciej Marszałek 44,000 0.7% 44,000 0.7% Member of the Supervisory Board – Rafał Olesiński 669 0.0% 669 0.0% Member of the Supervisory Board – Kinga Stanisławska 105 0.0% 105 0.0% MANAGEMENT AND SUPERVISORY BOARD IN TOTAL 184,585 2.8% 184,585 2.8% Others 6,291,415 97.2% 6,291,415 97.2% TOTAL 6,476,000 100.0% 6,476,000 100.0% SHAREHOLDER number of shares as at 31.12.2025 % share in basic capital number of votes at GSM % share in the number of votes President of the Management Board – Andrzej Ilczuk 17,813 0.3% 17,813 0.3% Member of the Management Board – Janusz Dziemidowicz 90,849 1.4% 90,849 1.4% Member of the Management Board – Magdalena Jurewicz 22,024 0.3% 22,024 0.3% Member of the Supervisory Board – Maciej Marszałek 44,000 0.7% 44,000 0.7% Member of the Supervisory Board – Rafał Olesiński 669 0.0% 669 0.0% Member of the Supervisory Board – Kinga Stanisławska 105 0.0% 105 0.0% MANAGEMENT AND SUPERVISORY BOARD IN TOTAL 175,460 2.7% 175,460 2.7% Others 6,300,540 97.3% 6,300,540 97.3% TOTAL 6,476,000 100.0% 6,476,000 100.0% 3.3. Series of shares series of shares number of shares as at 24.08.2026, 30.06.2026 and 31.12.2025 nominal value of shares (per one share) total nominal value of shares A 6,476,000 0.1 PLN 647,600.00 10 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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3.4. Description of changes in shareholding structure Changes in the shareholding structure between December 31, 2025 and August 24, 2026 result from the transactions described in: 1. notifications received on April 23, 2026 concerning changes in the shareholding in the Company, submitted by members of the Company’s Management Board, i.e. Andrzej Ilczuk, Janusz Dziemidowicz and Magdalena Jurewicz, as disclosed by the Company in current report No. 13/2026. The notifications were related to the allocation of shares under the incentive program (third tranche). Notwithstanding the above, the table includes a correction to the number of shares held by the President of the Management Board, in line with the information disclosed by the Company in current report No. 29/2023 of December 18, 2023. 2. The change in the number of treasury shares is related to the settlement of the Company’s existing incentive programs, including the program referred to above addressed to members of the Company’s Management Board. 11 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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4. COMPOSITION OF THE COMPANY’S BODIES AS AT 24.08.2026 The Management Board: » Andrzej Ilczuk – President of the Management Board; » Janusz Dziemidowicz – Member of the Management Board; » Magdalena Jurewicz – Member of the Management Board. During the reporting period and after it, until the date of preparation of the financial statements, there were no changes in the composition of the Management Board. The Supervisory Board: » Rafał Olesiński – President of the Supervisory Board; » Wiktor Schmidt – Vice – President of the Supervisory Board; » Marcin Biłos – Member of the Supervisory Board; » Maciej Marszałek – Member of the Supervisory Board; » Arkadiusz Pernal – Member of the Supervisory Board; » Kinga Stanisławska – Member of the Supervisory Board. During the reporting period and after it, until the date of preparation of these financial statements, there were no changes in the composition of the Supervisory Board. 12 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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5. FORM OF CONDENSED FINANCIAL STATEMENT The basis for the preparation of the financial statement This interim condensed consolidated financial statement has been prepared in accordance with the International Accounting Standard no 34 “Interim Financial Reporting”, approved by the EU (“IAS 34”). The interim condensed consolidated financial statement does not involve all information and disclosures required in the annual financial statement and it shall be read in conjunction with the consolidated financial statement of the Group for the year ending on 31 December 2025. Functional currency and presentation currency The interim condensed consolidated financial statement is presented in Polish zlotys (PLN), which is the functional currency and the presentation currency of the Company and the Capital Group. Transactions in foreign currencies shall be converted into the functional currency, in accordance with the exchange rate applicable as at the date of the transaction. Exchange profits and losses obtained as a result of the settlement of such transactions and the balance-sheet valuation of assets and financial liabilities in foreign currencies shall be included in the profit and loss statement, provided they are not deferred in equity if they are eligible for recognition as security of cash flows and hedges of net investments. Presented periods The interim condensed consolidated financial statement has been prepared as at 30.06.2026 and it covers the period of 6 months, i.e. since 01.01.2026 to 30.06.2026. For the data presented in the interim condensed consolidated statement of financial situation and off-balance sheet items, comparable financial data for the period from 01.01.2025 to 30.06.2025 were presented. For the data presented in the interim condensed consolidated statement of comprehensive income and in the interim condensed statement of cash flows, comparable financial data for the period from 01.01.2025 to 30.06.2025 were presented. 13 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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Going concern assumption The interim condensed consolidated financial statement has been prepared assuming that the Company and the Capital Group shall continue their activities for the period of 12 months after the last balance-sheet date, i.e. 30.06.2026. The Management Board of the Parent Entity, as at the date of signing the statement, was not aware of any facts or circumstances which could indicate a threat to the continuation of operations for the period of 12 months after the balance-sheet date due to an intended or forced discontinuance or material limitation of the hitherto activity. Until the date of preparation of the interim condensed consolidated financial statement for the first six months of 2026, there were no events which were not and which should have been included in the accounting records of the reporting period. At the same time, no material events relating to previous years in these financial statements are included. Auditing company These interim condensed consolidated financial statements together with selected elements of the interim condensed the standalone financial statements has been reviewed by an independent audit firm: UHY ECA Audyt Spółka z o.o. Połczyńska 31A Street, 01-377 Warszawa entered into a register of auditing companies under the number 3886. 14 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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6. STATEMENT OF THE MANAGEMENT BOARD The Management Board of the Parent Entity declares that, to the best of its knowledge, this interim condensed consolidated financial statement and the comparative data have been prepared in accordance with the accounting provisions of the Capital Group Ten Square Games S.A. and that they reflect a true and fair view of the assets, financial standing and financial performance and results of the Company and the Capital Group. The Management Board also declares that the semi-annual report on the activities of the Capital Group contains a true picture of the development and achievements as well as the situation of the Capital Group, including a description of the basic threats and risks. This interim condensed consolidated financial statement has been prepared in accordance with the International Financial Reporting Standards (IRS 34 – Interim Financial Reporting) and related interpretations, applicable to the interim financial reporting, published in the forms of the European Commission’s regulations, which were approved by the European Union. The presented interim condensed consolidated financial statement has been prepared in accordance with the Regulation of the Minister of Finance of 6 June 2025 on current and periodical information submitted by issuers of securities. 15 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT II
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1. INTERIM CONDENSED CONSOLIDATED COMPREHENSIVE INCOME STATEMENT CONSOLIDATED COMPREHENSIVE INCOME STATEMENT for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Revenues from the sales of services 192,328,397 181,088,144 Cost of services sold 32,431,411 29,808,823 Gross profit (loss) on sales 159,896,986 151,279,321 Other operating income 649,040 592,520 Selling costs 114,767,039 83,965,578 General and administrative costs 13,835,800 13,359,243 Other operating costs 1,043,928 266,633 Operating profit (loss) 30,899,259 54,280,387 Financial income 2,477,442 2,465,209 Financial expense 1,353,828 4,414,308 Profit on associates 522,834 375,648 Profit (loss) before taxation 32,545,707 52,706,934 Income tax 4,319,338 5,264,005 Net profit (loss) on continued activity 28,226,369 47,442,931 Profit (loss) on discontinued activity 0 0 Net profit (loss) 28,226,369 47,442,931 Net profit (loss) attributable to the Parent Company 28,226,369 47,442,931 Items that may be reclassified subsequently to profit or loss -7,175,692 -11,209,207 Subject to reclassification to the result – exchange differences from translation of foreign statements -7,175,692 -11,209,207 Items that will not be reclassified to profit or loss in subsequent periods 0 0 Other comprehensive income -7,175,692 -11,209,207 Total comprehensive income 21,050,677 36,233,724 Total comprehensive income attributable to non-controlling shareholders 0 0 Total comprehensive income attributable to Parent Company 21,050,677 36,233,724 17 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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CALCULATION OF EARNINGS PER SHARE for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Number of shares the weighted average number of shares for the purpose of calculating the value of basic earnings per share (in units) 6,476,000 6,476,000 the weighted average number of shares for the purpose of calculating the value of diluted earnings per share (in units) 6,362,865 6,359,865 net profit attributable to Parent Entity 28,226,369 27,485,767 Net earnings per share in PLN basic for the financial period 4.36 4.24 diluted for the financial period 4.44 4.32 Net earnings per share on continued operations in PLN basic for the financial period 4.36 4.24 diluted for the financial period 4.44 4.32 Net earnings per share attributable to discontinued operations in PLN basic for the financial period 0.00 0.00 diluted for the financial period 0.00 0.00 EARNINGS PER SHARE 18 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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1.1. INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL SITUATION [IFRS 18] Starting from January 1, 2027, the Group will present its consolidated statement of comprehensive income in accordance with the new IFRS 18 standard. The Group has decided to voluntarily present the data in the new format already for 2026. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME for the period 01.01.2026 – 30.06.2026 Revenues from the sales of services 192,328,397 Cost of services sold -32,431,411 Gross profit (loss) on sales 159,896,986 Other operating income 649,040 Selling costs -114,767,039 General and administrative costs -13,835,800 Other operating costs -1,043,927 Foreign exchange differences on operating activities 1,042,737 OPERATING PROFIT (LOSS) [A] 31,941,996 Interest income 1,385,224 Share in profits of associates 522,834 Profit/loss from investing activities [B] 1,908,058 PROFIT BEFORE FINANCING AND TAXATION [A+B] 33,850,054 Interest expense on leases -172,781 Other finance costs -1,131,566 Profit/loss from financing activities [C] -1,304,347 PROFIT BEFORE TAXATION [A+B+C] 32,545,707 Income tax -4,319,338 Net profit (loss) on continued activity 28,226,369 Profit (loss) on discontinued activity 0 NET PROFIT (LOSS) 28,226,369 Net profit (loss) attributable to the Parent Company 28,226,369 Items that may be reclassified subsequently to profit or loss -7,175,692 Other comprehensive income 0 Subject to reclassification to the result – exchange differences from translation of foreign statements -7,175,692 Items that will not be reclassified to profit or loss 0 Total comprehensive income 21,050,677 Total comprehensive income attributable to non-controlling interests 0 Total comprehensive income attributable to the parent entity 21,050,677 19 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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ASSETS 30.06.2026 31.12.2025 30.06.2025 Fixed assets 192,892,382 194,253,018 198,595,234 Tangible fixed assets 6,626,869 8,545,720 9,981,782 Intangible fixed assets other than goodwill 47,482,659 49,330,875 53,365,783 Goodwill 109,267,417 106,835,902 106,997,987 Other financial assets 24,702,521 24,787,733 23,503,483 Deferred income tax assets 4,812,916 4,752,788 4,746,199 Current assets 128,806,351 178,789,881 137,161,428 Receivables 36,518,492 38,355,915 33,786,151 Current income tax receivable 0 354,651 0 Contract assets 17,591,537 18,244,579 18,499,650 Loans granted 1,563,148 1,508,847 1,453,645 Cash and cash equivalents 73,133,174 120,325,889 83,421,982 TOTAL ASSETS 321,698,733 373,042,899 335,756,662 2. INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL SITUATION 20 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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EQUITY & LIABILITIES 30.06.2026 31.12.2025 30.06.2025 Equity 190,527,836 220,367,790 190,872,795 Equity attributable to owners of the Parent Entity 190,527,836 220,367,790 190,872,795 Share capital 647,600 647,600 647,600 Reserve capital from the sale of shares above the nominal price 490,305 490,305 490,305 Capital from the settlement of the incentive scheme 104,643,248 102,292,075 101,549,317 Foreign exchange differences on translation of statements of foreign operations -7,175,692 -11,565,549 -11,209,207 Retained earnings 105,509,219 142,450,485 113,341,906 Own shares (negative value) -13,586,844 -13,947,126 -13,947,126 Long-term liabilities 5,847,425 7,090,393 6,965,511 Deferred income tax provisions 1,284,876 1,032,520 1,220,172 Provisions for employee benefits 2,782,745 2,675,264 1,416,148 Lease liabilities 1,779,804 3,382,609 4,329,191 Short-term liabilities 125,323,472 145,584,716 137,918,356 Trade liabilities 14,902,378 16,574,685 9,101,316 Income tax provisions 23,435,773 23,435,773 23,435,773 Current income tax liabilities 383,869 0 612,999 Lease liabilities 2,629,085 2,501,192 2,425,291 Other liabilities 2,281,605 20,581,516 18,366,387 Provisions for employee benefits 3,995,608 4,171,244 5,328,579 Contract liabilities 77,695,154 78,320,306 78,648,011 Total liabilities 131,170,897 152,675,109 144,883,867 TOTAL EQUITY & LIABILITIES 321,698,733 373,042,899 335,756,662 21 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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3. INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY for the period of 6 months ended 30.06.2026 Share capital Reserve capital from the sale of shares above the nominal price Capital from the settlement of the incentive scheme Foreign exchange differences on translation Retained earnings Own shares Equity attributable to equity holders of the Parent Company Total equity Equity as at 01.01.2026 647,600 490,305 102,292,075 -11,565,549 142,450,485 -13,947,126 220,367,790 220,367,790 Payment of share capital 300 300 300 Share-based payments 2,351,173 2,351,173 2,351,173 Foreign exchange differences 10,503,547 10,503,547 10,503,547 Dividend payment -63,745,651 -63,745,651 -63,745,651 Net profit 28,226,369 28,226,369 28,226,369 Distribution of own shares -359,982 359,982 0 0 Other comprehensive income 4,389,857 -11,565,549 -7,175,692 -7,175,692 Total comprehensive income 4,389,857 16,660,820 21,050,677 21,050,677 Change in equity 0 0 2,351,173 4,389,857 -36,941,266 360,282 -29,839,954 -29,839,954 Equity as at 30.06.2026 647,600 490,305 104,643,248 -7,175,692 105,509,219 -13,586,844 190,527,836 190,527,836 22 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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for the period of 12 months ended 31.12.2025 Share capital Reserve capital from the sale of shares above the nominal price Capital from the settlement of the incentive scheme Foreign exchange differences on translation Retained earnings Own shares Equity attributable to equity holders of the Parent Company Total equity Equity as at 01.01.2025 647,600 490,305 99,448,841 -10,923,234 169,365,699 -15,765,955 243,263,256 243,263,256 Payment of share capital 1,515 1,515 1,515 Share-based payments 2,843,234 2,843,234 2,843,234 Foreign exchange differences 8,848,669 8,848,669 8,848,669 Dividend payment -100,040,676 -100,040,676 -100,040,676 Net profit 76,963,750 76,963,750 76,963,750 Distribution of own shares -1,817,314 1,817,314 0 0 Other comprehensive income -642,315 -10,869,643 -11,511,958 -11,511,958 Total comprehensive income -642,315 66,094,107 65,451,792 65,451,792 Change in equity 0 0 2,843,234 -642,315 -26,915,214 1,818,829 -22,895,466 -22,895,466 Equity as at 31.12.2025 647,600 490,305 102,292,075 -11,565,549 142,450,485 -13,947,126 220,367,790 220,367,790 for the period of 6 months ended 30.06.2025 Share capital Reserve capital from the sale of shares above the nominal price Capital from the settlement of the incentive scheme Foreign exchange differences on translation Retained earnings Own shares Equity attributable to equity holders of the Parent Company Total equity Equity as at 01.01.2025 647,600 490,305 99,448,841 -10,923,234 169,365,699 -15,765,955 243,263,256 243,263,256 Payment of share capital 1,515 1,515 1,515 Capital adjustment resulting from the merger of companies 0 0 Share-based payments 2,100,476 2,100,476 2,100,476 Foreign exchange differences 9,314,500 9,314,500 9,314,500 Dividend payment -100,040,676 -100,040,676 -100,040,676 Net profit 47,442,931 47,442,931 47,442,931 Distribution of own shares -1,817,314 1,817,314 0 0 Other comprehensive income -285,973 -10,923,234 -11,209,207 -11,209,207 Total comprehensive income -285,973 36,519,697 36,233,724 36,233,724 Change in equity 0 0 2,100,476 -285,973 -56,023,793 1,818,829 -52,390,461 -52,390,461 Equity as at 30.06.2025. 647,600 490,305 101,549,317 -11,209,207 113,341,906 -13,947,126 190,872,795 190,872,795 23 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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CONDENSED CONSOLIDATED CASH FLOW STATEMENT for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 OPERATING ACTIVITY Profit/loss before taxation 32,545,707 52,706,934 Total adjustments: 10,143,649 6,999,391 Depreciation and amortization 6,347,878 6,286,520 Gain/loss on foreign exchange rate conversion 189,674 407,802 Gain / loss on valuation of funds 1,131,240 0 Interest paid on lease 178,901 252,080 Interest accrued on deposits and loans -302,206 -890,570 Interest on liabilities (Rortos) 0 540,801 Change in receivables 1,837,422 7,077,877 Change in liabilities and accrued expenses -2,064,337 -3,251,307 Change in liabilities due to contracts with customers -625,152 -9,242,339 Change in assets due to contracts with customers 653,042 4,131,317 Impairment write-down of intangible assets and goodwill 697,232 0 Share-based payments (part not included in the acquisition of intangible assets) 2,351,173 2,100,476 Loss/profit on associates -522,834 -375,648 Loss / profit from the sale of fixed assets 271,616 -37,618 Cash from operating activity 42,689,356 59,706,325 Income tax (paid) / reimbursed -3,319,899 -3,391,432 A. Net operating cash flow 39,369,457 56,314,893 4. INTERIM CONDENSED CONSOLIDATED CASH FLOW STATEMENT 24 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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CONDENSED CONSOLIDATED CASH FLOW STATEMENT for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 INVESTMENT ACTIVITY Purchase of intangible and tangible fixed assets -2,985,825 -1,911,007 Disposal of intangible and tangible fixed assets 73,713 38,123 Earn-out payment -18,049,159 -14,668,721 B. Net cash flow from investment activities -20,961,271 -16,541,605 FINANCIAL ACTIVITY Net proceeds from the issue/distribution of shares 300 1,515 Dividend and other payments to the owners -63,745,650 -100,040,678 Payments of finance lease liabilities -1,434,946 -1,279,700 Interest on lease -178,901 -252,080 Other financial expenditure -15,594 -16,063 C. Net cash flow from financing activity -65,374,791 -101,587,006 D. Total net cash flow -46,966,605 -61,813,718 – change in cash due to exchange rate differences and accrued interest -226,110 1,460,849 E. Increase in cash and cash equivalents (incl. exchange rate differences) -47,192,715 -60,352,869 F. Cash at the beginning of the period 120,325,889 143,774,851 G. Cash at the end of the period 73,133,174 83,421,982 25 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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ACCOUNTING PRINCIPLES III
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1. COMPLIANCE WITH THE INTERNATIONAL ACCOUNTING STANDARDS This interim condensed financial statement has been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting. The accounting principles and policies applied in the preparation of this report are consistent with those applied in the preparation of the financial statements for the year ended December 31, 2025, except for the application of amendments to standards and new interpretations effective for annual reporting periods beginning on or after January 1, 2026: a. IFRS 18 Presentation and Disclosure in Financial Statements (issued on April 9, 2024) – effective for annual reporting periods beginning on or after January 1, 2027; b. IFRS 19 Subsidiaries without Public Accountability: Disclosures (issued on May 9, 2024), not endorsed by the EU by the date of approval of these financial statements – effective for annual reporting periods beginning on or after January 1, 2027; c. IFRS 20 Regulatory Assets and Regulatory Liabilities (issued on May 27, 2026) – effective for annual reporting periods beginning on or after January 1, 2029; d. Amendments to IFRS 9 and IFRS 7 Contracts Referencing Nature-dependent Electricity (issued on December 18, 2024) – effective for annual reporting periods beginning on or after January 1, 2026; e. Annual Improvements to IFRS Accounting Standards – Volume 11 (issued on July 18, 2024) – effective for annual reporting periods beginning on or after January 1, 2026; f. Amendments to IFRS 9 and IFRS 7: Classification and Measurement of Financial Instruments (issued on May 30, 2024) – effective for annual reporting periods beginning on or after January 1, 2026; g. Amendments to IAS 28 Investments in Associates and Joint Ventures – Fair Value Measurement Option (issued on June 26, 2026) – effective for annual reporting periods beginning on or after January 1, 2027. The above changes have been analyzed by the Group’s Management Board and do not have a material impact on the Group’s financial position or results of operations. However, the Group decided to additionally present the data in the format resulting from IFRS 18 in these financial statements, despite there being no requirement to do so. 27 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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2. CHANGES IN THE ACCOUNTING POLICY In the reporting period there were no changes in the accounting policy. 28 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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3. DESCRIPTION OF THE ADOPTED ACCOUNTING PRINCIPLES (POLICY) Consolidated financial statement Subsidiaries are all business entities over which the Group exercises control. The Group controls an entity if it is subject to or if it has a right to variable return on its contribution into an entity and if it can influence these returns through exercising control over such an entity. Subsidiaries are fully consolidated from the date control is transferred to the Group. The consolidation ceases at the date the control ceases. The costs related to the acquisition of a business entity are recognized as costs of the period. Intra-group transactions, settlements and unrealized gains on transactions between the Group’s entities are eliminated. Unrealized losses are also eliminated. If it is necessary, the amounts reported by subsidiaries are adjusted so that they comply with the accounting principles of the Group. Standalone financial statement Pursuant to IAS 27, the Company, as the parent company preparing separate financial statements, recognizes investments in subsidiaries, jointly controlled entities and associates at cost. If the purchase price includes future contingent payments, the Company estimates the value of future cash flows as credibly as possible on the date of purchase, and then recognizes them at the present value, adjusted by the change in the value of cash over time. In accordance with IAS 28, the Company measures investments in associates using the equity method. An investment in an associate is recognized initially at cost, and the carrying amount is increased or decreased in order to recognize the investor’s share of the profit or loss of the investee, noted by it after the acquisition date. An associate is an entity over which the investor has significant influence and which is neither a subsidiary of the investor nor a joint venture of the investor. The Management Board of the Parent Company always considers the existence of significant influence and dependence of the company in which the shares are acquired. 3.1. Subsidiaries and associates 29 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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3.2. Earnings per share Net profit/loss per share for each period is calculated as the quotient of the net profit/loss for the period attributable to the Company’s shareholders and the weighted average number of shares outstanding during that period. The weighted average number of shares outstanding includes any treasury (own) shares, if applicable. For the purpose of calculating diluted earnings per share, the profit or loss attributable to ordinary shareholders of the parent entity and the weighted average number of shares outstanding are adjusted for the effects of all dilutive potential ordinary shares. 3.3. Cash flows The statement of cash flows is prepared in accordance with the key requirements of IAS 7 “Statement of cash flows.” Cash flows from operating activities Cash flows from operating activities are presented using the indirect method, whereby the profit is adjusted for the effects of non-cash transactions, past or future cash inflows or outflows, and income or expense items related to investing or financing cash flows. Cash flows from investing and financing activities The main categories of cash inflows and outflows arising from investing and financing activities are presented separately. 30 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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3.4. Revenues and costs of operating activity Revenues are gross inflows of economic benefits of a given period, arising in the course of (ordinary) economic activity of the Group and resulting in an increase of equity, other than an increase of equity resulting from the contributions of shareholders. Revenues include only gross inflows of economic benefits received or due inflows of economic benefits that accrue to the Group. Sales income is understood as due or received amounts from the sales of material elements and services, minus the effective VAT tax. The revenue is measured at the fair value of the received or due payment, taking into account the amounts of trade discounts granted by the Group. Sales of services are recognized in the accounting period in which the services were provided. The specific nature of the Group’s companies’ activity is based mainly on retail to the end customer (natural person). Upon concluding an agreement with the user, concerning the purchase of objects or services in a game, the transfer of the goods takes place immediately through the channels of Internet distribution upon receiving payment through a financial intermediary (payment aggregator). In the course of ongoing activities of the Group’s companies, concluding agreements with customers takes place on a continuous basis, with the use of remote agreements (i.e. the acceptance of the terms and conditions of the provision of services and making payment on the terms defined by the Group’s companies). REVENUES MICRO-PAYMENTS » revenues from additional functionalities purchased by the players ADVERTISEMENTS » revenues from advertisements displayed in games SUBSCRIPTIONS » subscription revenue LICENSES » revenues from the users’ activity in games which are shared with the Company’s commercial partners on the basis of license agreements THE GROUP DISTINGUISHES FOUR MAIN SOURCES OF REVENUES 31 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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Revenues from additional functionalities purchased by the players (micro-payments) As part of the games, premium packages are available to users, which include banknotes and pearls (the virtual currency of the game). Players can convert the virtual currency of the game into durable virtual goods such as fishing rods or lures or other accessories to improve the parameters of the equipment and thus the results achieved in the game, or into consumables – e.g. amplifiers (+ x% fish weight) or another possibility to draw a card. The Company verifies an average estimated conversion period of virtual currency into goods in a game for a group of paying users and subsequently estimates the amount of potential liability due to the realization of premium packages. The amount of such a liability reduces the revenue of a given period and is recognized as an accrued income settlement (balance sheet item). In 2020, the Company made changes to its information systems so that it began collecting data to analyze the use of durable goods over time. As a result, the Company estimates the amount of the liability (customer contract liability) for the provision of the durable goods in the game – revenues related to the purchase of durable virtual goods (and the commission of digital distribution platforms such as Google Play and the App Store related to these revenues) are recognized by the estimated average play period of paying users. Estimating the average length of time a paying user remains in the game requires a sufficiently long history of player behavior. In the case of the games shared through Facebook and shared on digital distribution platforms, such as Google Play and App Store, the payments for additional functionalities received from users are decreased by commissions due for distributors. In the case of games shared through own website, the payments for additional functionalities received from users are decreased by commissions due for payment aggregators. Both the commissions of distributors and aggregators shall be recognized by the Company in the selling costs. Revenue from subscription purchases (subscriptions) Some of the Group’s games are monetised in a subscription model. This means that, in order to fully use the game, the player purchases a time-limited subscription, for example a monthly subscription. The Group recognises revenue over time, i.e. over the licence period. Revenues from advertisements displayed in games (advertisements) Revenues due to advertisements displayed by players shall be recognized by the Group in the amount resulting from the sales report, received from an advertising intermediary. Revenues from the users’ activity in games which are shared with the Company’s commercial partners on the basis of license agreements (licenses) Revenues due to the users’ activity in games shall be recognized by the Group in the amount due resulting from the sales report, received from a partner (a part of revenues due to users’ payment, after deduction of applicable taxes, commissions, returns and discounts). Costs of services sold shall be recognized by the Group in the same period as revenues from sales of these components, according to the principle of matching revenues and costs. In this item, the Group shall recognize the costs of manufacturing services, direct costs and a reasonable proportion of indirect costs related to the maintenance of games after their premiere, i.e. after the so-called soft launch. In this item, the following positions shall be recognized: costs of server maintenance, personnel costs of design departments as well as the depreciation of (games) development costs and depreciation of IT equipment. Selling costs – include mainly costs connected with advertising, marketing and promotion of games as well as commissions for intermediation in the execution of transactions, set off by a payment aggregator or an on-line shop. General and administrative costs – in this item, the following positions shall be grouped: personnel costs concerning the Management Board and departments related to design, costs of administration and maintenance of the office’s usability. 32 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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Financial revenues consists mainly of interest on free funds in bank accounts, commissions and interest on granted loans, interest on delay in settling receivables, the amount of released provisions concerning financial activity, revenues from sales of securities, positive exchange rate differences, restoration of lost value of investments, the value of redeemed credits and loans as well as profits from settlement of derivative instruments. Financial costs include mainly interest on credits and loans, interest on delay in the payment of receivables, created provisions for certain or probable losses on financial operations, acquisition value of sold shares, stocks, securities, commissions and handling fees, value of short-term investments, discount and exchange rate differences, losses on settlement of derivative instruments, and, in the case of financial leasing, other fees, excluding capital instalments. Income tax includes: current tax payable and deferred tax. Current tax Current tax is calculated on the basis of tax result (tax base) of a given trading year. Tax profit (loss) is different than balance-sheet profit (loss) due to the exclusion of revenues subject to taxation and costs which constitute tax-deductible revenues in the subsequent years as well as the revenues and costs which will never be subject to taxation. The current tax value is calculated on the basis of tax rate applicable in a given trading year. Ten Square Games S.A. as a company carrying out research and development activities and earning income from qualified intellectual property rights applies a preferential income tax rate. In order to take advantage of the IP BOX tax relief, the Company: » divides the tax income into income from qualified intellectual property rights (in the case of the Company, these are games meeting the definition of computer programs) and other sources; » for income from qualified intellectual property rights, the nexus ratio is calculated in accordance with the rules set out in the Corporate Income Tax Act; » the nexus index is used to calculate the tax for each source of income. In the case of other sources of income, the Company benefits from a research and development relief, which is a reduction of taxable income. 3.5. Revenues and costs of financial activity 3.6. Income tax 33 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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Deferred tax Deferred tax is a tax payable in the future, recognized in full value with the use of the balance sheet method, due to temporary differences between the tax value of assets and liabilities and their balance-sheet values in the financial statement. The deferred income tax asset is a tax refundable in the future, calculated with the use of the balance-sheet method, due to temporary differences between the tax value of assets and liabilities and their balance-sheet values in the financial statement. Deferred income tax assets are recognized when it is probable that in the future the Group shall achieve the revenue subject to taxation, which enables the use of temporary differences. Basic temporary differences concern different depreciation of the games created by the Group, balance sheet valuation of settlements and accounting for revenues from users over time. Deferred income tax is calculated with the use of tax rates, legally or actually binding as at the balance-sheet date, which will be applicable upon their implementation. Deferred tax is recognized in the profit and loss statement, and if it concerns transactions settled with equity, it is recognized in equity. Deferred income tax assets are recognized when it is probable that in the future the Group shall achieve the revenue subject to taxation, which enables the use of temporary differences. Deferred tax liabilities or assets are recognized as long-term liabilities or assets in the balance sheet. Uncertainty related to the recognition of income tax With the introduction in 2019 of „IFRIC 23: Uncertainty Related to the Recognition of Income Tax”, which clarifies the recognition of income tax when it is uncertain whether the tax treatment applied by an entity will be accepted by the tax authorities, the Company assesses each time the possible approach of the authorities to the tax return prepared by the Company. If it is probable that the tax authorities will accept the applied tax approach, the Company recognizes the taxes in the financial statements consistently with the tax returns without reflecting the uncertainty in the recognition of current and deferred tax. Otherwise, the tax base (or tax loss), tax values and unused tax losses are recognized by the Company in an amount which better reflects the resolution of the uncertainty, using the method of one most probable result or the expected value method (the sums weighted by probabilities of possible solutions). When assessing the probability of acceptance, the Company assumes that the tax authorities will verify the uncertain tax treatment and have full knowledge of this issue. 34 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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The Group recognizes fixed assets as separate objects, suitable for use, meeting the criteria for fixed assets specified in IAS 16 Tangible fixed assets, if the purchase price (manufacturing cost) amounts to at least PLN 3.500. Fixed assets with the value below 3.500 PLN undergo one-off amortization and they are recognized as costs in the month of purchase. Tangible fixed assets are recognized according to the cost (purchase price or manufacturing cost) reduced in the subsequent periods by write-downs and impairment write-offs. External financing costs directly related to the acquisition or production of assets requiring a longer period of time in order to be fit for use or resale are added to the costs of production of such fixed assets until the moment of putting such fixed assets into use. The costs of modernization are included in the balance sheet value of fixed assets when it is probable that they will yield economic gains, and the costs incurred for modernization can be reliably measured. All other expenses for repairing and maintaining fixed assets are recognized in the profit and loss statement for the reporting periods in which they occurred. Amortization is calculated for all fixed assets, excluding land and fixed assets under construction, by estimated period of economic utility of those assets, using the straight-line method. The Group, using the significance rule, decided that amortization shall start in the month of the asset’s acceptance for use. The Group, no later than at the end of the financial year, conducts a periodical verification of the adopted economic useful life periods for fixed assets, final value and depreciation methods, and the effects of changes in these estimates are reflected in the following and subsequent financial years (prospectively). As at the balance-sheet date, the Group shall also evaluate tangible fixed assets for impairment and evaluates a necessity of preparing impairment write-downs. This takes place when the Group is sufficiently assured that a given asset shall not generate the expected economic benefits or the achieved benefits shall be significantly lower. The impairment loss shall be recognized in the amount by which the balance-sheet value exceeds the recoverable amount. The recoverable amount is the higher of two amounts: fair value less selling costs or value in use. The write-downs shall be recognized as other costs relevant for the property functions of fixed assets in the period during which the impairment was determined, no later than at the end of the financial year. If it has been established, with sufficient certainty, that the reasons for which a write-down on the value of assets had been made have stopped, the Company shall introduce the reversal of the conducted impairment write-down, in full or in part, by recognition of revenues. Profits or losses resulting from sales/liquidation or disposal of fixed assets shall be determined as the difference between sales revenues and net value of these fixed assets, and they shall be recognized in the profit and loss statement. 3.7. Tangible fixed assets 35 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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3.8. Intangible assets Intangible assets are valuated at acquisition or construction cost less amortization and impairment write-downs. Depreciation is made with a straight-line method. The Group, no later than at the end of the financial year, conducts a periodical verification of the adopted economic useful life periods for intangible assets, final value and depreciation methods, and the effects of changes in these estimates are reflected in the following and subsequent financial years (prospectively). As at the balance-sheet date, the Group shall also evaluate intangible assets for impairment and evaluate a necessity of preparing impairment write-downs. This takes place when the Group is sufficiently assured that a given asset shall not generate the expected economic benefits or the achieved benefits shall be significantly lower. The impairment loss shall be recognized in the amount by which the balance-sheet value exceeds the recoverable amount. The recoverable amount is the higher of two amounts: fair value less selling costs or value in use. The write-downs shall be recognized as other costs relevant for the property functions of intangible assets in the period during which the impairment was determined, no later than at the end of the financial year. If it has been established, with sufficient certainty, that the reasons for which a write-down on the value of assets had been made have stopped, the Company shall introduce the reversal of the conducted impairment write-down, in full or in part, by recognition of revenues. Intangible assets of the Group with the depreciation rates: 1. Computer software – from 2 to 5 years, 2. Development costs – from 5 to 10 years. 36 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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Software development activities The Group’s intangible assets also include tangible assets in progress (games) if they can be qualified as development works, in accordance with IAS 38 Intangible assets, i.e. they meet all of the following conditions: a. it is technically possible to complete an intangible asset so that it is suitable for sale or use, b. it is possible to prove the intent of completing an asset and its use and sale, c. an asset will be suitable for use or sale, d. it is known in what way an asset will generate future economic benefits, e. technical and financial measures will be provided in order to complete development works and the asset’s use and sale, f. it is possible to reliably establish the expenditures incurred during development works. If the above conditions are not met, the Group shall treat the expenditures as research works and recognize them in a current period. Development works in progress, as unamortized intangible assets, are subject to impairment testing not less frequently than once a year. The Group shall treat the expenditures on games as completed and it shall requalify them to the development costs upon the so-called soft launch, which is the release of a game on a few chosen markets. Goodwill Goodwill arising from the acquisition of an entity is initially recognized at the purchase price being the amount of the excess of: (i) the consideration transferred, (ii) the amount of any non-controlling interest in the acquired entity and (iii) in the case of a business combination carried out in stages, the fair value as at the date of acquisition of the interest in capital of the acquired entity, previously belonging to the acquiring entity, over the net amount determined as at the acquisition date of the value of identifiable assets acquired and liabilities assumed. As at the acquisition date, the acquired goodwill is allocated to each of the cash-generating units that may benefit from the synergies resulting from the merger. After initial recognition, goodwill is carried at acquisition price less any accumulated impairment losses. The impairment test is performed as at December 31 or more frequently if there are grounds for doing so. Goodwill is not subject to amortization. The impairment loss is determined by estimating the recoverable value of the cash-generating unit to which a given goodwill was allocated. If the recoverable value of the cash-generating unit is lower than the carrying amount, an impairment loss is recognized. Goodwill is removed from the balance sheet when control over the entity to which it was allocated is lost. 37 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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In accordance with IFRS 16 on recognition, measurement, presentation and disclosure of leases, the Company presents assets and liabilities arising from the agreements described in IFRS 16. At the beginning of an agreement, an entity assesses whether the agreement is or contains a lease. An agreement is a lease or contains a lease if it gives the right to control the use of an identified asset for a given period in exchange for remuneration. At the date of commencement of the agreement, the Company recognizes an asset under the right of use and a liability under the lease. An asset under the right of use is measured at cost, while a liability under the lease is recognized at the present value of the lease payments outstanding at that date. The cost of the debt is the average market interest rate of PLN loans to enterprises published by the NBP. After the commencement date, the Company measures an asset by virtue of the right of use, using the cost model, while the liability is measured through: a. increasing the balance sheet value to reflect interest on the lease liability, b. a reduction in the balance sheet value to reflect the lease payments made, and c. revaluing the balance sheet value to reflect any reassessment or change in the lease, or to reflect revalued substantially fixed lease payments. Interest on the lease obligation at any time during the lease term is the amount by which a fixed periodic rate of interest is obtained on the outstanding balance of the lease obligation. The interest element of the finance charge is charged to the profit or loss for the current period. 3.9. Lease 38 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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The Group shall recognize a financial asset or financial liability in the statement of financial situation only when it becomes bound by the provisions of the instrument agreement. Unconditional receivables and liabilities shall be recognized as assets or liabilities when the Group becomes a party to the agreement, and, as a consequence, has a legal right to receive or a legal obligation to pay cash. With the exception of trade receivables, which shall be valued on the basis of the amortized costs, on initial recognition, the Group shall valuate a financial asset or financial liability at its fair value, which in the case of financial assets or financial liabilities not valuated at fair value by financial result shall be increased or decreased by transaction costs that are directly attributable to the acquisition or issue of such financial assets or financial liabilities. The Group classifies a financial asset as valuated, after initial recognition, at amortized cost or at fair value by other comprehensive income or at fair value by financial result, on the basis of: a. the entity’s business model with regard to the management of financial assets, and b. the characterization of cash flows for a financial asset, resulting from an agreement. A financial asset shall be valuated at amortized costs if it meets both of the following conditions: c. a financial asset is maintained in accordance with the business model whose aim is maintaining financial assets for the purpose of obtaining cash flows resulting from the agreement; d. the provisions of the agreement concerning a financial asset result in the creation of cash flows, within specified periods, which are only the repayment of main amount and interest on the outstanding amount. A financial asset shall be valuated at fair value by other comprehensive income if it meets both of the following conditions: e. a financial asset is maintained in accordance with the business model whose aim is maintaining financial assets for the purpose of obtaining cash flows resulting from the agreement and the sales of financial assets; and f. the provisions of the agreement concerning a financial asset result in the creation of cash flows, within specified periods, which are only the repayment of main amount and interest on the outstanding amount. A financial asset shall be valuated at fair value by financial result unless it is valuated at amortized cost (due to meeting the conditions specified above) or at fair value by comprehensive income (due to meeting the conditions specified above). 3.10. Financial instruments 39 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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The Group classifies all financial liabilities as valuated, after initial recognition, at amortized cost, excluding: financial liabilities valuated at fair value by financial result (one-off decision on initial recognition, if it is allowed by IFRS 9), financial liabilities arising from transferring a financial asset, financial guarantee agreements, commitments to provide loans at below-market interest rates, contingent considerations recognized by the acquiring entity under a merger. As at each reporting date, the Group shall valuate a write-down on expected credit losses due to financial instrument, in the amount equal to the expected credit losses during a life cycle if credit risk connected with a given financial instrument has significantly increased since initial recognition. In order to conduct the analysis of statistical receivables, the Group shall apply the division into the following categories of recipients: 1. International payment intermediaries (online shops, payment aggregators); 2. Advertising intermediaries; 3. Licensees. 40 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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Items included in the financial statement are presented in Polish zloty (“PLN”) which is a functional currency of the Group. Valuation As at the balance-sheet date, financial assets and liabilities denominated in foreign currencies are converted according to the rates applicable as at that date. Assets and liabilities valuated at fair value and denominated in foreign currencies are valuated according to the rates applicable at the date when fair value was determined. Non-financial items are valuated at historical cost. Exchange rate differences are recognized in the comprehensive income statement during the period in which they arise, excluding exchange rate differences which constitute external financing costs relating to assets in progress, intended for future operating use, which shall be included in these assets and treated as corrections of interest costs. Transactions during a year Transactions denominated in currencies other than Polish zloty shall be converted to Polish zloty at the exchange rate actually applied at the date of concluding a transaction and if applying such a rate is not possible, at the average exchange rate for a given currency, announced by the National Bank of Poland on the previous day. The disbursement of cash in a foreign currency from own accounts shall be conducted according to the FIFO principle. Exchange rate differences are recognized in the comprehensive income statement during the period in which they arise, excluding exchange rate differences which constitute external financing costs relating to assets in progress, intended for future operating use, which shall be included in these assets and treated as corrections of interest costs. 3.12. Receivables Trade and other receivables Loans and receivables are classified as financial assets. Loans granted are measured at amortized cost using the interest rate specified in the loan agreement. Trade and other receivables are recognized in the books at amounts corresponding to the transaction prices, adjusted for appropriate impairment allowances under the expected credit loss model. Prepayments and accruals The Company shall recognize prepaid expenses if they concern future reporting periods. Accrued expenses shall be recognized in the amount of probable liabilities for a given reporting period. 3.11. Transactions in foreign currencies 41 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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3.13. Equity The share capital is recognized in the amount specified in the Company’s articles of association and entered in the court register. If the shares are taken up at a price higher than the nominal value, the surplus is recognized in the supplementary capital. In the item other capitals, the Group recognizes the profit for the period allocated in accordance with the shareholders’ resolution to other capitals. 3.14. Share-based payments In the case of share-based payments in transactions with employees and other people providing similar services, the unit shall valuate the fair value of received services by reference to the fair value of the equity instruments. It is a consequence of the fact that it is usually not possible to reliably estimate the fair value of the received services. The fair value of equity instruments shall be determined at the date of granting such instruments. 3.15. Payment of dividends Dividends shall be recognized at the time of establishment of the Parent Company’s shareholders’ rights to the dividends. 3.16. Provisions Provisions shall be recognized if the Group is under an existing liability (legal or customary), resulting from past events and if it is probable or highly probable that fulfilment of this liability will require expending of funds that form economic benefits and if it is possible to reliably estimate the value of such liability. The amount of the created provisions shall be verified and updated at the end of the reporting period in order to adjust the estimates to the values prepared in accordance with the Group’s best knowledge as at that date. In the financial statement, provisions shall be recognized as long-term and short-term provisions. 42 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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3.17. Liabilities Liabilities are the Group’s present obligation resulting from past events, the fulfilment of which will result in an outflow from the Company of funds embodying economic benefits. Long-term liabilities include liabilities whose maturity date, counting from the end of the reporting period, falls in the period longer than 12 months. Long-term liabilities include liabilities whose maturity date, counting from the end of the reporting period, falls in the period shorter than 12 months. Trade liabilities are recognized at nominal value. Any interest is recognized at the moment of receiving notes from suppliers. 3.18. Transactions with related parties The accounting policies as well as key estimates and assumptions presented in the section on receivables and liabilities apply to transactions conducted with related parties. 3.19. Significant values based on professional judgement and estimates The preparation of the consolidated financial statements requires the Management Board of the Parent Company to make certain estimates and assumptions, which are reflected in these statements and in additional information and explanations to these statements. Accounting judgements and estimates are derived from previous events and other factors, including but not limited to the forecasts on the future events that are likely to occur. Although the adopted assumptions and estimates are based on the best knowledge of the Management Board concerning current activities and events, actual results might differ from the expected outcome. Estimates and assumptions connected with them are subject to verification. The change of accounting judgements shall be recognized in the period during which it occurred or in the current or future periods, if a conducted change of estimates concerns both the current period and future periods. Basic judgements conducted by the Management Board of the Parent Entity in the process of applying the accounting principles of the entity and having the most significant impact on the values recognized in the financial statement are provided below. 43 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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Moment of activation of development costs The Group commences the activation of expenditures on development works when it is possible to prove that the specified works shall generate future economic profits and under the condition that the Group possesses sufficient resources necessary to complete, use and achieve profits from an intangible asset. Meeting both of the criteria, i.e. a possibility of achieving future economic benefits and possessing sufficient resources is based on the Management Board’s estimates, resulting from the analysis of market and financials situation of the Group. Depreciation period of activated intangible assets The Management Board specifies the estimated periods of use and depreciation rates for the amounts of incurred development costs of activated intangible assets. This estimate is based on the expected period of economic utility of such assets. In the case of the occurrence of circumstances which change the expected period of economic utility (e.g. technological changes, withdrawal from use, etc.), the depreciation rates may change. As a consequence, the value of write-offs and net book value of activated costs of development works may also change. Deferred income tax assets and liabilities Deferred income tax assets and liabilities are valuated in accordance with tax rates, which are expected to apply at the moment when the assets are realized or the liabilities are released, adopting as a basis the tax regulations which were legally or actually effective at the end of the reporting period. The probability of realizing deferred income tax assets with future tax income is based on the Group’s plans. Recognition of revenue from the provision of durable virtual goods The Company estimates the amount of the liability (customer contract liability) for the provision of durable in-game goods – revenue related to the purchase of durable virtual goods (and the commission of digital distribution platforms such as Google Play and the App Store related to such revenue) is recognized over the estimated average play period of the paying users. PROFESSIONAL JUDGEMENT 44 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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Impairment of assets As at each balance-sheet date, the Group shall verify the assets for impairment and evaluate a necessity of preparing impairment write-downs. This takes place when the Group is sufficiently assured that a given asset shall not generate the expected economic benefits or the achieved benefits shall be significantly lower. In the case of completed development works (the Group’s games), the estimate shall be based on the verification of several quality parameters of a game, which, in the Management Board’s opinion, can influence the ability to generate future economic benefits for the Group. However, taking into account the changes on the market, the Management Board’s estimates are subject to uncertainty. When impairment tests are carried out on a different group of assets (e.g. investment value, value of shares), the estimate is based on the cash-generating ability of the cash-generating unit (CGU), and the value of the cash flows generated is discounted using mathematical models. The final result of the test is largely influenced by the applied discount rate and the long-term growth rate, both of which are subject to significant market volatility. As for the estimation of inflows, these are also subject to uncertainty due to the need to forecast game revenues, and as noted above, the gaming market is highly dynamic and rapidly changing. The use of consumables over time As at the reporting date, the Group shall estimate a number of unused premium packages (notes and pearls) for active players*. The basis for determining a number of unused packages shall be their turnover rate (average period of using a package by active users*) and average revenues from sales of premium packages. The average period of using a package amounts to up to 7 days, according to the analysis. If the estimated amounts of commitments to provide services in return for the realization of premium packages are significant, the Company shall recognize the amount of liabilities in the statement of financial situation. When the estimated amount of the obligation to provide services is deemed significant (material), the Company also recognizes in the assets commission expenses related to deferred income. Under agreements concluded with major intermediaries (e.g. mobile shops), commissions usually amount to 30% of the payment amount. The use of durables over time The Company estimates the average playing period of paying users as at each reporting date. The Company then estimates what portion of the revenue recognised in the period preceding the reporting date relates to durable goods and calculates the amount of deferred revenue. If the estimated amounts of the obligation to provide services in exchange for the purchase of durable goods are significant, the Company recognises the amount of the obligation in the statement of financial position. When the estimated amount of the obligation to provide services is considered significant/material, the Company also recognises as assets the commission costs related to revenue deferred over time. Based on agreements concluded with the main intermediaries, such as mobile stores, commissions typically amount to 30% of the payment amount. Determination of materiality When preparing financial statements, the Group applies the materiality principle. The materiality principle introduces the possibility to apply simplifications, if it does not have a materially negative impact on the reliable and clear presentation of the property, financial situation and financial result. The Group has adopted the amount of PLN 1.0 million as the materiality level in the preparation of the financial statement (in accordance with the accounting policy, not more than 5% of the gross result after taking into account one-off events, i.e. write-offs of the value of games). UNCERTAINTY OF ESTIMATES * The Company defines an active user as one who has ever made a minimum of one payment up to the balance sheet date and has been active in the game (i.e. logged in at least 1 time) in the 30 days: before the balance sheet date and/or after the balance sheet date. 45 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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ADDITIONAL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT IV
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1. REVENUES In accordance with IFRS 15, revenue from the sale of services, after deducting value added tax, discounts and rebates are recognized when the obligation to provide the service through the transfer of the service to the contractor is fulfilled. Revenues from discontinued operations did not occur. SPECIFICATION 01.01.2026 – 30.06.2026 01.01.2025 – 30.06.2025 Sales of services 192,328,397 181,088,144 TOTAL revenues from sales of services 192,328,397 181,088,144 Other operating revenues 649,040 592,520 Financial revenues 2,477,442 2,465,209 TOTAL revenues from continuing operations 195,454,879 184,145,873 TOTAL revenues 195,454,879 184,145,873 47 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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The Management Board does not distinguish separate operating segments, in accordance with the definition specified in IFRS 8 par. 5, including revenues, costs, assets and liabilities, for which separate financial information shall be prepared and on the basis of which the decisions concerning the allocation of resources by main operating decision-making body would be made. The Management Board currently evaluates the Group’s financial performance primarily based on 2 metrics: „Bookings” and „Adjusted/Recurring EBITDA”. Under „Bookings”, the Group recognizes revenue not reduced by deferred revenue (i.e. in the case of micropayments, these are payments made by users during the period indicated). The amount of deferred revenue results from an estimate of the unused virtual currency and durable goods (durables) by active players made at the balance sheet date. The amount of such deferred revenue is reported in the financial statements under the balance sheet item „customer contract liabilities”. „Recurring EBITDA” means the operating profit shown in the consolidated financial statements achieved by the Group for a given financial year, increased by depreciation of fixed assets and intangible assets, adjusted by: » extraordinary and one-off events; » costs of conducting the Incentive Scheme in accordance with the financial reporting standards applicable to the Company; » the impact of non-cash adjustments to revenue (and the related cost of distributors’ commissions), related to e.g. deferral of revenue from virtual currency or durables; » the impact of any one-off write-downs on capital expenditures on the development of mobile games. 1.1. Information on operating segments and key performance indicators 48 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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The Group’s operations are based on the production and distribution of Free to Play (F2P) games. The Group generates sales revenues related to in-game advertising, in-game micropayments and on the basis of license agreements. 1.2. Revenues – source TYPE OF REVENUES bookings 01-06.2026 share in bookings 01-06.2026 bookings 01-06.2025 share in bookings 01-06.2025 micro-payments 171,144,309 89.3% 160,802,358 93.6% advertisements 10,921,222 5.7% 2,397,197 1.4% subscriptions 9,395,657 4.9% 8,423,961 4.9% licenses 219,407 0.1% 233,528 0.1% BOOKINGS TOTAL 191,680,595 100.0% 171,857,045 100.0% Deferred income (consumables) 1,374,302 N/A -1,991,009 N/A Deferred income (durables) -726,500 N/A 11,222,108 N/A REVENUES TOTAL 192,328,397 N/A 181,088,144 N/A Revenues from micropayments and licenses are entirely generated by individuals, while the flow of funds to the Group takes place through payment aggregators, mobile stores or licensees. Users purchase certain packages in the game, e.g. a package of pearls, a package of lures (in fishing games), upgraded fishing rods. The price of the package is fixed and determined by the Group. The goods are handed over to the user at the moment of registration of payment by the indicated entities. Although in the case of purchase of premium packages, i.e. packages containing e.g. virtual currency, the transfer of currency to the user’s account takes place immediately after the payment is made, but the use of the virtual currency in the game may be postponed in time – this depends on the decision of the player, who may individually, within the framework of an agreement between the parties, choose the moment of exchange of the virtual currency for other virtual goods. Revenues related to the purchase of durable virtual goods (and the commission of digital distribution platforms such as Google Play and App Store related to these revenues) are recognized by the estimated average playing time of paying users. In games advertisements are displayed to users (natural persons). The display of an advertisement is also the moment when the revenue is recognized. The advertiser pays for the display of the advertisement, while the due part of this revenue goes to the Group through advertising intermediaries on the basis of advertising reports. Settlement with intermediaries takes place on the basis of monthly sales reports, and the payment is made in accordance with the deadline specified in the contract, usually between 1 and 60 days from the end of the calendar month. 49 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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1.3. Revenues – games GAME bookings 01-06.2026 share in bookings 01-06.2026 bookings 01-06.2025 share in bookings 01-06.2025 Fishing Clash 92,716,367 48.4% 101,352,902 59.0% Hunting Clash 28,685,797 15.0% 33,865,015 19.7% Trophy Hunter 28,671,395 15.0% 72,874 0.0% Let's Fish 4,272,296 2.2% 4,215,566 2.5% Wild Hunt 2,670,082 1.4% 3,700,384 2.2% Airline Commander 2,564,091 1.3% 3,599,187 2.1% Real Flight Simulator 10,152,512 5.3% 10,491,119 6.1% Wings of Heroes 20,780,896 10.8% 13,585,620 7.9% Medal Hunter 264,610 0.1% 0 0.0% other 902,549 0.5% 974,378 0.6% TOTAL BOOKINGS 191,680,595 100.0% 171,857,045 100.0% Deferred income (consumables) 1,374,302 N/A -1,991,009 N/A Deferred income (durables) -726,500 N/A 11,222,108 N/A TOTAL REVENUES 192,328,397 N/A 181,088,144 N/A GAME 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Fishing Clash 52,643,140 48,709,762 47,133,542 49,047,847 46,230,340 46,486,027 Hunting Clash 18,637,608 15,227,407 14,568,690 15,295,131 15,259,475 13,426,322 Wings of Heroes 7,291,234 6,294,386 8,397,619 9,800,011 11,104,261 9,676,635 Real Flight Simulator 5,297,592 5,193,527 5,469,157 5,180,558 5,249,276 4,903,236 Trophy Hunter 29,697 43,177 3,185,012 10,198,650 15,031,704 13,639,691 Let's Fish 2,024,803 2,190,763 2,274,784 2,233,739 2,180,215 2,092,081 Wild Hunt 1,999,937 1,700,447 1,648,248 1,661,653 1,377,306 1,292,776 Airline Commander 2,018,051 1,581,136 1,821,185 1,455,311 1,442,108 1,121,983 Medal Hunter 264,610 other 519,365 455,013 495,000 626,469 487,943 414,606 TOTAL BOOKINGS 90,461,427 81,395,618 84,993,237 95,499,369 98,362,628 93,317,967 Deferred income (consumables) 1,000,827 -2,991,836 1,205,454 -975,513 2,136,262 - 761,960 Deferred income (durables) 5,190,738 6,031,370 4,185,657 -4,092,962 -1,904,894 1,178,394 TOTAL REVENUES 96,652,992 84,435,152 90,384,348 90,430,894 98,593,996 93,734,401 BREAKDOWN OF REVENUES BY QUARTER FOR THE MAIN TITLES 50 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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YEAR 2026 CONSUMABLES Balance sheet item Change of deferral Valuation Change of deferral Valuation Balance sheet item 31.12.2025 Q1 2026 Q1 2026 Q2 2026 Q2 2026 30.06.2026 Fishing Clash deferred revenues -12,345,324 625,306 -625,306 -12,345,324 deferred costs 2,760,808 -229,019 180,263 2,712,052 Hunting Clash deferred revenues -4,431,206 1,259,992 -241,757 -3,412,971 deferred costs 1,139,983 -359,354 25,387 806,016 Let's Fish deferred revenues -588,117 77,703 15,270 -495,144 deferred costs 176,435 -23,311 -4,581 148,543 Wild Hunt deferred revenues -460,900 139,543 898 -320,459 deferred costs 138,270 -41,863 -269 96,138 Real Flight Simulator deferred revenues -1,621,559 33,718 44,602 88,935 -67,252 -1,521,556 deferred costs 486,468 -9,570 -12,835 -25,487 17,891 456,467 TOTAL deferred revenues -19,447,106 2,136,262 44,602 -761,960 -67,252 -18,095,454 deferred costs 4,701,964 -663,117 -12,835 175,313 17,891 4,219,216 DURABLES Fishing Clash deferred revenues -46,583,838 -1,490,553 523,920 -47,550,471 deferred costs 10,403,739 161,912 -172,003 10,393,648 Hunting Clash deferred revenues -12,289,362 -414,341 654,474 -12,049,229 deferred costs 3,138,876 41,689 -201,892 2,978,673 TOTAL deferred revenues -58,873,200 -1,904,894 1,178,394 -59,599,700 deferred costs 13,542,615 203,601 -373,895 13,372,321 CONSUMABLES + DURABLES deferred revenues -78,320,306 231,368 44,602 416,434 -67,252 -77,695,154 deferred costs 18,244,579 -459,516 -12,835 -198,582 17,891 17,591,537 impact on result -60,075,727 -228,148 31,767 217,852 -49,361 -60,103,617 Deferred revenue by game and quarters in 2025 and 2026, and the balance sheet balance as at 01.01.2025, 01.01.2026 and 30.06.2026 (balance sheet item “contract liabilities” for deferred revenue and balance sheet item “contract assets” for deferred commission costs): 51 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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CONSUMABLES Balance sheet item Change of deferral Valuation Change of deferral Valuation Change of deferral Valuation Change of deferral Valuation Balance sheet item 01.01.2025 Q1 2025 Q1 2025 Q2 2025 Q2 2025 Q3 2025 Q3 2025 Q4 2025 Q4 2025 31.12.2025 Fishing Clash deferred revenues -11,137,616 205,217 -2,699,847 2,371,638 -1,084,716 -12,345,324 deferred costs 2,797,078 -234,016 441,907 -499,044 254,866 2,760,791 Hunting Clash deferred revenues -4,106,374 716,040 -177,279 -1,122,956 259,363 -4,431,206 deferred costs 1,102,759 -242,270 29,777 295,894 -46,160 1,140,000 Let's Fish deferred revenues -454,459 63,127 -119,208 -24,456 -53,121 -588,117 deferred costs 136,338 -18,938 35,762 7,337 15,936 176,435 Wild Hunt deferred revenues -445,647 41,458 20,042 10,257 -87,010 -460,900 deferred costs 133,694 -12,437 -6,013 -3,077 26,103 138,270 Real Flight Simulator deferred revenues -1,558,250 -25,016 32,597 -15,488 -21,412 -29,084 -10,266 -10,040 15,400 -1,621,559 deferred costs 467,475 7,505 -9,779 4,608 6,462 8,763 3,042 2,437 -4,045 486,468 TOTAL deferred revenues -17,702,346 1,000,826 32,597 -2,991,780 -21,412 1,205,399 -10,266 -975,524 15,400 -19,447,106 deferred costs 4,637,344 -500,156 -9,779 506,041 6,462 -190,127 3,042 253,182 -4,045 4,701,964 DURABLES Fishing Clash deferred revenues -53,979,343 3,166,906 4,239,642 2,996,575 -3,007,618 -46,583,838 deferred costs 13,627,088 -1,229,467 -1,660,936 -971,772 638,826 10,403,739 Hunting Clash deferred revenues -16,208,661 2,023,832 1,791,728 1,189,082 -1,085,343 -12,289,362 deferred costs 4,366,535 -693,827 -549,655 -301,271 317,094 3,138,876 TOTAL deferred revenues -70,188,004 5,190,738 6,031,370 4,185,657 -4,092,961 -58,873,200 deferred costs 17,993,623 -1,923,294 -2,210,591 -1,273,043 955,920 13,542,615 CONSUMABLES +DURABLES deferred revenues -87,890,350 6,191,564 32,597 3,039,590 -21,412 5,391,056 -10,266 -5,068,485 15,400 -78,320,306 deferred costs 22,630,967 -2,423,450 -9,779 -1,704,550 6,462 -1,463,170 3,042 1,209,102 -4,045 18,244,579 impact on result -65,259,383 3,768,114 22,818 1,335,040 -14,950 3,927,886 -7,224 -3,859,383 11,355 -60,075,727 YEAR 2025 52 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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DISTRIBUTION CHANNEL bookings 01-06.2026 share in bookings 01-06.2026 bookings 01-06.2025 share in bookings 01-06.2025 mobile 185,901,376 97.0% 165,741,485 96.4% browsers 5,779,219 3.0% 6,115,560 3.6% TOTAL BOOKINGS 191,680,595 100.0% 171,857,045 100.0% Deferred income (consumables) 1,374,302 N/A -1,991,009 N/A Deferred income (durables) -726,500 N/A 11,222,108 N/A TOTAL REVENUES 192,328,397 N/A 181,088,144 N/A 1.5. Revenues – distribution channel BUSINESS PARTNER bookings 01-06.2026 share in bookings 01-06.2026 bookings 01-06.2025 share in bookings 01-06.2025 Google Inc. 88,143,129 46.0% 79,950,716 46.5% Apple Distribution International 47,311,472 24.7% 49,117,197 28.6% Appcharge Inc. 19,522,816 10.2% 14,260,984 8.3% Adyen N.V. 8,171,529 4.3% 7,828,845 4.6% Aghanim Inc. 7,691,865 4.0% 0 0.0% Xsolla Inc. 2,124,526 1.1% 11,782,099 6.9% others 18,715,258 9.7% 8,917,204 5.1% TOTAL BOOKINGS 191,680,595 100.0% 171,857,045 100.0% Deferred income (consumables) 1,374,302 N/A -1,991,009 N/A Deferred income (durables) -726,500 N/A 11,222,108 N/A TOTAL REVENUES 192,328,397 N/A 181,088,144 N/A 1.4. Revenues by business partner 53 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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REGION bookings 01-06.2026 share in bookings 01-06.2026 bookings 01-06.2025 share in bookings 01-06.2025 North America 83,082,608 43.4% 73,822,133 43.0% Europe 78,565,932 41.0% 69,990,901 40.7% including Poland 10,521,438 5.5% 9,559,537 5.6% Asia 18,660,332 9.7% 18,319,007 10.7% South America 6,105,694 3.2% 4,782,352 2.8% Australia and Oceania 3,535,586 1.8% 3,537,884 2.1% Africa 1,730,443 0.9% 1,404,768 0.7% TOTAL BOOKINGS 191,680,595 100.0% 171,857,045 100.0% Deferred income (consumables) 1,374,302 N/A -1,991,009 N/A Deferred income (durables) -726,500 N/A 11,222,108 N/A TOTAL REVENUES 192,328,397 N/A 181,088,144 N/A 1.6. Revenues – geographical breakdown With regard to the analysis of payments by geographic markets, the Group allocates user payments based on IP address using external databases and relies on country-level sales reports available on selected distribution platforms. 54 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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2. OPERATING COSTS SPECIFICATION for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Amortization and depreciation 6,347,878 6,286,520 Materials and energy 391,778 372,027 Third-party services 128,737,988 97,208,629 Taxes and fees 1,097,715 746,108 Remuneration 21,956,904 19,401,685 Social insurance and other benefits 4,779,388 4,268,663 Other 348,649 376,922 Total costs by type, including: 163,660,300 128,660,554 Cost of products and services sold 32,431,411 29,808,823 Selling costs 114,767,039 83,965,578 General and administrative costs 13,835,800 13,359,244 Cost of manufacturing products for the entity's own needs (capitalization) 2,626,050 1,526,909 55 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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SPECIFICATION 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Cost of products and services sold 2,063,508 2,114,471 2,254,787 2,225,742 2,186,312 2,222,119 Depreciation – completed development work (mainly games) 596,355 540,929 533,119 531,907 522,858 520,467 Depreciation – other assets 11,191,466 11,110,084 11,184,748 11,862,333 12,378,844 13,104,712 Salaries and subcontractor services 317,254 350,529 394,904 338,603 324,371 393,792 Translations 93,338 103,677 81,876 67,324 279,665 218,333 Outsourcing of 3D models 1,499,932 1,354,189 1,236,883 1,449,597 1,476,532 1,429,456 Other -748,935 -777,974 -58,311 -280,395 -1,058,432 -1,567,618 TOTAL COSTS OF GOODS AND SERVICES SOLD 15,012,918 14,795,905 15,628,006 16,195,111 16,110,150 16,321,261 SPECIFICATION for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Cost of products and services sold 32,431,411 29,808,823 Depreciation – completed development work (mainly games) 4,408,431 4,177,979 Depreciation – other assets 1,043,325 1,137,284 Salaries and subcontractor services 25,483,556 22,301,550 Translations 718,163 667,783 Outsourcing of 3D models 497,998 197,015 Other 2,905,988 2,854,121 Cost of producing products for internal use (capitalization) -2,626,050 -1,526,909 BREAKDOWN OF COST OF PRODUCTS AND SERVICES SOLD: 56 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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BREAKDOWN OF SELLING COSTS: SPECIFICATION for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Selling costs 114,767,039 83,965,578 marketing: 58,278,469 28,329,568 – Fishing Clash 13,375,912 15,717,254 – Hunting Clash 2,331,190 7,199,190 – Trophy Hunter 30,849,955 255,273 – Wings of Heroes 10,517,971 5,157,851 – Medal Hunter 1,139,769 0 – other titles 63,672 0 provisions 43,305,582 43,956,271 revenue share 658,089 728,041 remuneration, subcontractor services 9,769,052 8,725,707 mobile market research services 318,552 140,130 other 2,437,295 2,085,861 SPECIFICATION 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Selling costs 44,823,513 39,142,065 47,193,660 56,907,892 61,598,480 53,168,559 marketing: 15,602,094 12,727,474 20,063,875 30,033,925 32,397,879 25,880,590 – Fishing Clash 8,151,812 7,565,442 6,521,755 7,126,171 5,693,899 7,682,013 – Hunting Clash 4,402,922 2,796,268 2,701,450 2,212,171 1,641,522 689,668 – Trophy Hunter 55,156 200,117 6,099,011 15,011,498 18,265,750 12,584,205 – Wings of Heroes 2,992,203 2,165,648 4,741,660 5,667,368 6,796,708 3,721,263 – Medal Hunter 16,716 1,139,769 – other titles 63,672 provisions 23,804,627 20,151,644 21,280,912 20,958,262 22,496,545 20,809,037 revenue share 362,608 365,433 379,713 347,075 335,608 322,481 remuneration, subcontractor services 4,117,114 4,608,593 4,330,706 4,267,572 4,926,808 4,842,244 mobile market research services 69,453 70,677 161,119 161,119 160,197 158,355 other 867,617 1,218,244 977,335 1,139,939 1,281,443 1,155,852 57 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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SPECIFICATION 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 recurring costs, including: 6,086,580 5,996,171 5,405,440 6,029,013 6,187,255 6,725,300 salaries, subcontractor services of Parent Company 2,826,448 2,924,104 2,689,671 2,563,845 3,076,127 3,023,520 maintenance costs of subsidiaries 949,065 869,616 828,430 1,005,639 1,179,790 1,039,211 rental and maintenance of office – Parent Company 677,914 590,001 572,201 586,623 589,208 576,797 other 1,633,153 1,612,450 1,315,139 1,872,905 1,342,130 2,085,772 non-recurring costs, including: 296,636 979,857 643,053 -234,768 461,623 461,622 motivation scheme cost 306,249 979,857 643,053 -234,768 461,623 461,622 M&A cost -9,613 0 0 0 0 0 TOTAL GENERAL AND ADMINISTRATIVE COST 6,383,216 6,976,028 6,048,493 5,794,245 6,648,878 7,186,922 BREAKDOWN OF GENERAL AND ADMINISTRATIVE COSTS: SPECIFICATION for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 recurring costs, including: 12,912,555 12,082,751 salaries, subcontractor services of Parent Company 6,099,647 5,750,552 maintenance costs of subsidiaries 2,219,001 1,818,681 rental and maintenance of office – Parent Company 1,166,005 1,267,915 other 3,427,902 3,245,603 non-recurring costs, including: 923,245 1,276,493 motivation scheme cost 923,245 1,286,106 M&A cost 0 -9,613 TOTAL GENERAL AND ADMINISTRATIVE COST 13,835,800 13,359,244 58 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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3. OTHER OPERATING COSTS AND REVENUES OTHER OPERATING REVENUES for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Re-invoicing of operating costs (markup) 271,396 215,623 Sponsorship cooperation (barter) 214,450 211,810 Other 163,194 165,087 Total 649,040 592,520 OTHER OPERATING COSTS for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Impairment write-down of capitalised games (Hunting Next) 697,232 0 Sponsorship cooperation (barter) 214,450 211,810 Writing off uncollectible receivables 7,054 19,149 Donations 35947 0 Other 89,245 35,674 Total 1,043,928 266,633 59 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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4. FINANCIAL INCOME AND EXPENSE FINANCIAL INCOME for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Interest income 1,385,224 2,465,209 Surplus of positive exchange rate differences 1,092,218 0 Total 2,477,442 2,465,209 FINANCIAL COSTS for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Loss on valuation of investment units (SISU fund) 1,131,240 0 Costs from other interest 173,414 252,081 Other 49,174 514 Surplus of negative exchange rate differences 0 3,620,912 Interest – unwinding of the discount on the liability for the purchase of Rortos 0 540,801 Total 1,353,828 4,414,308 60 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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5. CURRENT AND DEFERRED TAX SPECIFICATION for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Taxable income 27,109,047 40,011,415 Current income tax 4,126,289 4,451,051 Deferred income tax 193,049 812,954 Income tax disclosed in the statement of comprehensive income 4,319,338 5,264,005 SPECIFICATION for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Gross financial result (profit or loss) 32,545,707 52,706,934 Exchange rate differences -1,203,456 1,742,674 Write off of receivables (non-tax-deductible) 7,051 19,149 Release and recognition of vacation provision 366,613 285,872 Recognition and release of provision for other costs 175,808 -170,014 Donations 35,947 0 Amortization of intangible assets 364,819 196,692 Depreciation of right of use (lease) 1,332,093 1,408,502 Amortization of fixed assets -299,864 -243,328 Capitalization of development costs -2,626,050 -1,392,067 Other costs that are not tax deductible 36,194 -2,314,891 Recognition of an impairment write-down of capitalised games 697,232 0 Loss/profit on associates -522,834 -375,648 Unwinding of discount, update of valuation 0 540,801 Share based payments 2,351,173 2,100,476 Revenue (and related cost) deferred over time for balance sheet purposes 97,892 -5,131,545 R&D relief -5,923,236 -6,667,306 Other tax-deductible costs not recognized for balance sheet purposes -1,457,282 -1,446,461 Loss on valuation of investment units (SISU fund) 1,131,240 0 Loss from previous years 0 -1,248,425 Taxable income 27,109,047 40,011,415 THE RECONCILIATION OF GROSS PROFIT TO THE TAX BASE IS PRESENTED AS FOLLOWS: 61 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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SPECIFICATION 30.06.2026 31.12.2025 30.06.2025 deferred recognition of consumables over time (net basis) 647,744 695,675 716,166 deferred recognition of durables over time (net basis) 2,337,149 2,309,059 2,323,244 holiday provision 371,473 301,816 309,423 provision for audit costs 7,980 25,270 10,640 lease – IFRS 16 valuation 630,079 743,125 799,444 valuation of receivables and payables 0 48,152 0 provision for remuneration 559,156 589,857 527,140 other provisions 259,335 39,834 60,142 Total 4,812,916 4,752,788 4,746,199 SPECIFICATION 30.06.2026 31.12.2025 30.06.2025 amortization of games 1,266,047 1,032,520 1,122,427 revaluation of receivables and payables 18,829 0 97,745 Total 1,284,876 1,032,520 1,220,172 STRUCTURE OF DEFERRED INCOME TAX ASSETS: STRUCTURE OF DEFERRED INCOME TAX PROVISION: 62 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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6. DIVISION OF PROFIT FOR 2025 On 21 April 2026, the General Meeting of Shareholders of the Company adopted a resolution on the allocation of the Company’s net profit for the financial year 2025 in the amount of PLN 83,635,797 (in words: eighty-three million six hundred thirty-five thousand seven hundred ninety-seven Polish zlotys) as follows: 1. the amount of PLN 63,745,650 (in words: sixty-three million seven hundred forty-five thousand six hundred fifty Polish zlotys) was allocated for distribution among shareholders in the form of a dividend payment of PLN 10.00 (in words: ten Polish zlotys) per share, excluding the Company’s treasury shares held by the Company on the dividend record date; 2. the amount of PLN 19,890,147 (in words: nineteen million eight hundred ninety thousand one hundred forty-seven Polish zlotys) was transferred to the Company’s supplementary capital. The Annual General Meeting set the dividend record date for 15 May 2026 and the dividend payment date for 22 May 2026. 63 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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7. CHANGES IN TANGIBLE FIXED ASSETS SPECIFICATION Machinery and equipment Buildings and premises Other fixed assets TOTAL Gross carrying amount as at 01.01.2026 5,012,851 26,829,355 5,235,850 37,078,056 Increases due to: 325,434 0 50,617 376,051 – purchase of tangible fixed assets 307,566 0 38,032 345,598 – balance sheet valuation 17,868 0 12,585 30,453 Decreases due to: 460,768 12,187 469,833 942,788 – sales of tangible fixed assets 460,768 0 469,833 930,601 – balance sheet valuation 0 12,187 0 12,187 Gross carrying amount as at 30.06.2026 4,877,517 26,817,168 4,816,634 36,511,319 Depreciation as at 01.01.2026 3,948,147 20,989,033 3,595,156 28,532,336 Increases due to amortization 201,685 1,206,117 529,584 1,937,386 Decreases due to sales 448,598 0 136,674 585,272 Depreciation as at 30.06.2026 3,701,234 22,195,150 3,988,066 29,884,450 Write-downs as at 01.01.2026 0 0 0 0 Increases 0 0 0 0 Decreases 0 0 0 0 Write-downs as at 30.06.2026 0 0 0 0 Net carrying amount as at 30.06.2026 1,176,283 4,622,018 828,568 6,626,869 Changes in fixed assets (by type) in the period of 01.01.2026-30.06.2026 64 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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SPECIFICATION Machinery and equipment Buildings and premises Other fixed assets TOTAL Gross carrying amount as at 01.01.2025 5,720,328 26,831,355 5,069,229 37,620,912 Increases due to purchase of tangible fixed assets 478,602 0 436,682 915,284 Decreases due to: 1,186,079 2,000 270,061 1,458,140 – sales of tangible fixed assets 1,186,079 0 0 1,186,079 – liquidation 0 0 269,791 269,791 – balance sheet valuation 0 2,000 270 2,270 Gross carrying amount as at 31.12.2025 5,012,851 26,829,355 5,235,850 37,078,056 Depreciation as at 01.01.2025 4,608,216 18,454,004 2,799,913 25,862,133 Increases due to amortization 520,136 2,535,029 1,065,034 4,120,199 Decreases due to: 1,180,205 0 269,791 1,449,996 – sales 1,180,205 0 0 1,180,205 – liquidation 0 0 269,791 269,791 Depreciation as at 31.12.2025 3,948,147 20,989,033 3,595,156 28,532,336 Write-downs as at 01.01.2025 0 0 0 0 Increases 0 0 0 0 Decreases 0 0 0 0 Write-downs as at 31.12.2025 0 0 0 0 Net carrying amount as at 31.12.2025 1,064,704 5,840,322 1,640,694 8,545,720 Changes in fixed assets (by type) in the period of 01.01.2025-31.12.2025 65 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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SPECIFICATION Machinery and equipment Buildings and premises Other fixed assets TOTAL Gross carrying amount as at 01.01.2025 5,720,328 26,831,355 5,069,229 37,620,912 Increases due to: 313,424 0 21,286 334,710 – purchase of tangible fixed assets 304,508 0 21,286 325,794 – balance sheet valuation 8,916 0 0 8,916 Decreases due to: 90,631 6,114 267,059 363,804 – sales of tangible fixed assets 90,631 0 0 90,631 – liquidation 0 0 267,059 267,059 – balance sheet valuation 0 6,114 0 6,114 Gross carrying amount as at 30.06.2025 5,943,121 26,825,241 4,823,456 37,591,818 Depreciation as at 01.01.2025 4,608,216 18,454,004 2,799,913 25,862,133 Increases due to amortization 289,461 1,306,946 508,681 2,105,088 Decreases due to: 90,126 0 267,059 357,185 – sales 90,126 0 0 90,126 – liquidation 0 0 267,059 267,059 Depreciation as at 30.06.2025 4,807,551 19,760,950 3,041,535 27,610,036 Write-downs as at 01.01.2025 0 0 0 0 Increases 0 0 0 0 Decreases 0 0 0 0 Write-downs as at 30.06.2025 0 0 0 0 Net carrying amount as at 30.06.2025 1,135,570 7,064,291 1,781,921 9,981,782 Changes in fixed assets (by type) in the period of 01.01.2025-30.06.2025 SPECIFICATION 30.06.2026 31.12.2025 30.06.2025 Own 2,004,851 2,705,398 3,095,316 Used under a lease, tenancy or other agreement, including a lease agreement 4,622,018 5,840,322 7,669,014 Total 6,626,869 8,545,720 10,764,330 OWNERSHIP STRUCTURE (NET VALUE): 66 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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8. CHANGES IN INTANGIBLE ASSETS AND GOODWILL GAME gross value at the date of recognition (“development costs”) method of valuation amortization period start of amortization end of amortization game status as at 30.06.2026 Let's Fish 68,064 capitalisation of costs up to SL* 5 years 01.02.2012 31.01.2017 fully amortised, carrying amount of PLN 0 Wild Hunt 465,459 capitalisation of costs up to SL 5 years 01.05.2016 30.04.2021 fully amortised, carrying amount of PLN 0 Fishing Clash 850,372 capitalisation of costs up to SL 5 years 01.07.2016 30.06.2021 fully amortised, carrying amount of PLN 0 Hunting Clash 1,401,545 capitalisation of costs up to SL 4 years 01.11.2019 31.10.2023 fully amortised, carrying amount of PLN 0 Airline Commander 32,150,736 DCF – assets acquired from Rortos 10 years 01.07.2021 30.06.2031 under amortisation Real Flight Simulator 30,555,985 DCF – assets acquired from Rortos 10 years 01.07.2021 30.06.2031 under amortisation Wings of Heroes 19,334,994 DCF – assets acquired from Rortos 10 years 01.06.2022 31.05.2032 under amortisation Real Combat Simulator 678,994 capitalisation of costs up to SL 5 years 01.03.2025 28.02.2030 under amortisation Trophy Hunter 3,170,591 capitalisation of costs up to SL 5 years 01.07.2025 30.06.2030 under amortisation Medal Hunter 1,695,451 capitalisation of costs up to SL 5 years 01.06.2026 31.05.2031 under amortisation Fishing Trip capitalisation of costs; the game before SL capitalisation of costs up to SL N/A N/A N/A N/A * SL – soft launch, i.e. the release of a game in several selected markets. 67 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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COMPLETED DEVELOPMENT PROJECTS: INTANGIBLE ASSETS UNDER DEVELOPMENT: GAME net value as at 30.06.2025 net value as at 31.12.2025 net value as at 30.06.2026 Airline Commander* 18,080,766 16,514,646 15,260,535 Real Flight Simulator* 17,183,918 15,695,481 14,503,577 Wings of Heroes* 13,924,717 12,871,822 12,064,264 Real Combat Simulator* 677,590 658,892 511,305 Trophy Hunter 3,170,591 2,853,532 2,536,473 Medal Hunter capitalisation of costs; the game before SL capitalisation of costs; the game before SL 1,667,194 other tools 230,203 87,560 39,800 TOTAL 53,267,785 48,681,933 46,583,148 GAME start of cost capitalisation end of cost capitalisation net value as at 30.06.2025 net value as at 31.12.2025 net value as at 30.06.2026 Trophy Hunter 03.2024 06.2025 0 PLN, game put into use 0 PLN, game put into use 0 PLN, game put into use Medal Hunter 07.2025 05.2026 N/A 338,425 0 PLN, game put into use Hunter's Lodge (Hunting Next) 02.2026 05.2026 N/A N/A 0 PLN, game fully written off in the amount of costs incurred, i.e. PLN 697,232 Fishing Trip (Fishing Next) 02.2026 capitalisation of costs; the game before SL N/A N/A 571,790 other tools N/A N/A 0 216,531 220,098 TOTAL 0 554,956 791,888 * games valued as at each reporting date, original value expressed in EUR. 68 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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CHANGE OF VALUE IN THE PERIOD OF 01.01.2026-30.06.2026: SPECIFICATION Development costs Computer software Intangible assets under construction Goodwill TOTAL Gross carrying amount as at 01.01.2026 97,116,463 1,520,880 554,956 148,037,266 247,229,565 Increases due to: 2,309,646 15,698 2,629,615 2,431,515 7,386,474 – purchase 0 14,178 2,626,049 2,640,227 – reclassification 1,695,451 0 0 0 1,695,451 – balance sheet valuation 614,195 1,520 3,566 2,431,515 3,050,796 Decreases due to reclassification 0 0 1,695,451 0 1,695,451 Gross carrying amount as at 30.06.2026 99,426,109 1,536,578 1,489,120 150,468,781 252,920,588 Depreciation as at 01.01.2026 48,434,530 1,426,894 0 0 49,861,424 Increases due to amortization 4,408,431 2,061 0 0 4,410,492 Depreciation as at 30.06.2026 52,842,961 1,428,955 0 0 54,271,916 Write-downs as at 01.01.2026 0 0 0 41,201,364 41,201,364 Increases 0 0 697,232 0 697,232 Decreases 0 0 0 0 0 Write-downs as at 30.06.2026 0 0 697,232 41,201,364 41,898,596 Net carrying amount as at 30.06.2026 46,583,148 107,623 791,888 109,267,417 156,750,076 69 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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CHANGE OF VALUE IN THE PERIOD OF 01.01.2025-31.12.2025: SPECIFICATION Development costs Computer software Intangible assets under construction Goodwill TOTAL Gross carrying amount as at 01.01.2025 93,727,214 1,456,554 3,530,093 149,654,782 248,368,643 Increases due to: 3,861,204 64,766 2,080,352 0 6,006,322 – purchase 0 64,766 2,080,352 0 2,145,118 – reclassification 3,861,204 0 0 0 3,861,204 Decreases due to: 471,955 440 5,055,489 1,617,516 7,145,400 – reclassification 0 0 3,861,204 0 3,861,204 – liquidation 0 0 1,194,285 0 1,194,285 – balance sheet valuation 471,955 440 0 1,617,516 2,089,911 Gross carrying amount as at 31.12.2025 97,116,463 1,520,880 554,956 148,037,266 247,229,565 Depreciation as at 01.01.2025 39,776,022 1,412,916 0 0 41,188,938 Increases due to amortization 8,658,508 13,978 0 0 8,672,486 Depreciation as at 31.12.2025 48,434,530 1,426,894 0 0 49,861,424 Write-downs as at 01.01.2025 0 0 1,194,285 41,201,364 42,395,649 Increases 0 0 0 0 0 Decreases 0 0 1,194,285 0 1,194,285 Write-downs as at 31.12.2025 0 0 0 41,201,364 41,201,364 Net carrying amount as at 31.12.2025 48,681,933 93,986 554,956 106,835,902 156,166,777 70 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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CHANGE OF VALUE IN THE PERIOD OF 01.01.2025-30.06.2025: SPECIFICATION Development costs Computer software Intangible assets under construction Goodwill TOTAL Gross carrying amount as at 01.01.2025 93,727,214 1,456,554 3,530,093 149,654,782 248,368,643 Increases due to: 3,861,204 59,817 1,525,396 0 5,446,417 – purchase 0 59,817 1,525,396 0 1,585,213 – reclassification 3,861,204 0 0 0 3,861,204 Decreases due to: 366,631 2,005 5,055,489 1,455,431 6,879,556 – reclassification 0 0 3,861,204 0 3,861,204 – liquidation 0 0 1,194,285 0 1,194,285 – balance sheet valuation 366,631 2,005 0 1,455,431 1,824,067 Gross carrying amount as at 30.06.2025 97,221,787 1,514,366 0 148,199,351 246,935,504 Depreciation as at 01.01.2025 39,776,022 1,412,916 0 0 41,188,938 Increases due to amortization 4,177,980 3,452 0 0 4,181,432 Depreciation as at 30.06.2025 43,954,002 1,416,368 0 0 45,370,370 Write-downs as at 01.01.2025 0 0 1,194,285 41,201,364 42,395,649 Increases 0 0 0 0 0 Decreases 0 0 1,194,285 0 1,194,285 Write-downs as at 30.06.2025 0 0 0 41,201,364 41,201,364 Net carrying amount as at 30.06.2025 53,267,785 97,998 0 106,997,987 160,363,770 71 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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9. OTHER FINANCIAL ASSETS SPECIFICATION 30.06.2026 31.12.2025 30.06.2025 Other financial assets: 24,702,521 24,787,733 23,503,483 – Gamesture investment 13,203,853 12,681,019 12,533,210 – gross value 26,164,795 26,164,795 26,164,795 – share in Gamesture’s loss -7,546,607 -8,069,441 -8,217,250 – write-down of the investment value (Gamesture) -5,414,335 -5,414,335 -5,414,335 – participation units in the investment fund Sisu Game Ventures 10,181,160 10,804,800 9,672,908 – office rental deposit 1,317,508 1,301,914 1,297,365 72 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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10. RECEIVABLES CURRENCY 30.06.2026 31.12.2025 30.06.2025 amount in currency valuation % share amount in currency valuation % share amount in currency valuation % share USD 3,778,741 14,248,876 45.90% 3,850,756 13,868,881 41.43% 3,364,224 12,166,381 43.85% PLN 9,048,022 9,048,022 29.14% 10,567,088 10,567,088 31.56% 7,820,255 7,820,255 28.18% EUR 1,803,436 7,748,101 24.96% 2,139,599 9,043,445 27.01% 1,825,561 7,743,845 27.91% other currencies ————— 0 0.00% ————— 0 0.00% ————— 15,699 0.06% TOTAL 31,044,999 100.00% 33,479,414 100.00% 27,746,180 100.00% CURRENCY STRUCTURE OF TRADE RECEIVABLES: AGE STRUCTURE: AGE STRUCTURE – OVERDUE 30.06.2026 31.12.2025 30.06.2025 value of receivables value of receivables value of receivables not overdue 30,436,566 33,399,217 27,673,990 up to 1 month 165,499 66,222 66,910 1-3 months 381,216 6,774 1,359 3-6 months 39,355 5,779 2,748 6-12 months 19,768 1,422 0 over a year 2,595 0 1,173 Total receivables 31,044,999 33,479,414 27,746,180 SPECIFICATION 30.06.2026 31.12.2025 30.06.2025 Trade receivables 31,044,999 33,479,414 27,746,180 Other receivables 1,056,488 1,446,258 2,710,918 Accruals 4,417,005 3,430,243 3,329,053 TOTAL RECEIVABLES 36,518,492 38,355,915 33,786,151 10.1. Trade receivables 73 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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User payments are aggregated by intermediaries (mobile stores, payment aggregators, licensees). The largest receivable balances as of the reporting dates were from: » Google Inc. – 35.96% as at 30.06.2026 in comparison to 37.79 % as at 31.12.2025; » Apple Distribution International – 31.24% as at 30.06.2026 in comparison to 33.86% as at 31.12.2025; No other entity exceeded a 10% share in total receivables as at 30 June 2026. 10.2. Other receivables 10.3. Accruals SPECIFICATION 30.06.2026 31.12.2025 30.06.2025 Other short-term receivables, including: 1,056,488 1,446,258 2,710,918 – tax related (mainly VAT) 430,819 798,556 2,683,894 – other tax settlements, including withholding tax 598,645 598,645 0 – deposit for office rental 27,024 49,057 27,024 SPECIFICATION 30.06.2026 31.12.2025 30.06.2025 Maintenance of software technical service /program subscriptions 3,120,167 2,230,052 2,119,717 Annual fee – marketing campaign tracking tool 417,242 19,008 448,877 Insurance 23,926 165,211 131,595 Promotional services 495,508 660,677 302,528 Other accruals 360,162 355,295 326,336 Active cost accruals 4,417,005 3,430,243 3,329,053 74 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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11. TRADE LIABILITIES SPECIFICATION 30.06.2026 31.12.2025 30.06.2025 Trade liabilities 14,902,378 16,574,685 9,101,316 towards related parties 5,535 149,937 348,973 towards other parties 14,896,843 16,424,749 8,752,343 75 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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12. OTHER LIABILITIES SPECIFICATION 30.06.2026 31.12.2025 30.06.2025 Liabilities due to the acquisition of Rortos (earn-out payments) 0 18,014,620 16,157,002 – long – term 0 0 0 – short – term 0 18,014,620 16,157,002 Other liabilities 2,281,605 2,566,896 2,209,385 – long – term 0 0 0 – short – term, including: 2,281,605 2,566,896 2,209,385 Tax at source 0 21,557 0 Personal Income Tax 227,326 249,787 161,848 Social insurance contributions (ZUS) 1,450,803 1,558,905 1,387,544 State Fund for Rehabilitation of Disabled People (Polish: PFRON) 36,111 31,444 33,517 Other liabilities 567,365 705,203 626,476 TOTAL OTHER LIABILITIES 2,281,605 20,581,516 2,209,385 – long – term 0 0 0 – short – term 2,281,605 20,581,516 18,366,387 76 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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13. PROVISIONS FOR EMPLOYEE BENEFITS SPECIFICATION As at 01.01.2026 Changes during the year As at 30.06.2026 Plan Reclassification from long-term to short-term Usage long – term provisions: 2,788,085 768,167 -773,507 0 2,782,745 Severance provision (TFR – Rortos) 1,089,464 112,030 -20,990 0 1,180,504 Provision for bonuses (long-term) 1,698,621 656,137 -752,517 0 1,602,241 short – term provisions: 4,171,244 3,243,091 773,507 -4,192,234 3,995,608 Severance provision (TFR – Rortos) 0 0 20,990 -20,990 0 Holiday provision 2,124,876 1,955,118 0 -2,124,876 1,955,118 Provision for bonuses 2,046,368 1,287,973 752,517 -2,046,368 2,040,490 TOTAL PROVISIONS 6,959,329 4,011,258 0 -4,192,234 6,778,353 77 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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SPECIFICATION As at 01.01.2025 Changes during the year As at 30.06.2025 Plan Reclassification from long-term to short-term Usage long – term provisions: 2,951,419 152,054 -1,687,325 0 1,416,148 Severance provision (TFR – Rortos) 0 0 0 0 0 Provision for bonuses (long-term) 2,951,419 152,054 -1,687,325 0 1,416,148 short – term provisions: 6,961,218 2,485,347 1,687,325 -5,805,311 5,328,579 Severance provision (TFR – Rortos) 1,155,907 106,821 0 0 1,262,728 Holiday provision 1,914,472 2,229,087 0 -1,914,472 2,229,087 Provision for bonuses 3,890,839 149,439 1,687,325 -3,890,839 1,836,764 TOTAL PROVISIONS 9,912,637 2,637,401 0 -5,805,311 6,744,727 SPECIFICATION As at 01.01.2025 Changes during the year As at 31.12.2025 Plan Reclassification from long-term to short-term Usage long – term provisions: 2,946,201 809,660 -576,045 -391,731 2,788,085 Severance provision (TFR – Rortos) 0 325,288 1,155,907 -391,731 1,089,464 Provision for bonuses (long-term) 2,946,201 484,372 -1,731,952 0 1,698,621 short – term provisions: 6,966,436 2,643,031 372,306 -5,810,529 4,171,244 Severance provision (TFR – Rortos) 1,155,907 0 -1,155,907 0 0 Holiday provision 1,914,472 2,124,876 0 -1,914,472 2,124,876 Provision for bonuses 3,896,057 518,155 1,528,213 -3,896,057 2,046,368 TOTAL PROVISIONS 9,912,637 3,452,691 -203,739 -6,202,260 6,959,329 78 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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14. INFORMATION ON AFFILIATED ENTITIES, INCLUDING INFORMATION ON REMUNERATION OF SENIOR MANAGEMENT AND THE SUPERVISORY BOARD The following tables present the total amounts of transactions concluded between the Parent and related parties for the current and previous reporting periods: The table below presents remuneration split into amounts paid and due. Where no annotation is provided, the amount paid is equal to the amount due for the reporting period. The totals for each individual reflect only the amounts due, in accordance with the accrual principle – i.e. the basis on which these financial statements have been prepared. For members of the Management Board, fixed cash remuneration includes amounts arising from two legal relationships: » appointment, and » employment contract / cooperation agreement. AFFILIATED PERSON Remuneration Net dividend PERIOD 01.01.2026 – 30.06.2026 01.01.2025 – 30.06.2025 01.01.2026 – 30.06.2026 01.01.2025 – 30.06.2025 Management Board (total due remuneration) 2,200,858 2,667,315 1,132,469 1,665,110 Andrzej Ilczuk 1,079,682 1,302,511 176,078 226,961 – cash fixed renumeration 417,000 431,700 – cash variable remuneration due 222,613 313,507 – cash variable remuneration due, paid 102,435 158,109 – share-based incentive program 440,069 557,304 Janusz Dziemidowicz 559,588 682,402 756,937 1,157,534 – cash fixed renumeration 318,000 318,000 – share-based incentive program 241,588 364,402 14.1. Management personnel 79 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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AFFILIATED PERSON Remuneration Net dividend PERIOD 01.01.2026 – 30.06.2026 01.01.2025 – 30.06.2025 01.01.2026 – 30.06.2026 01.01.2025 – 30.06.2025 Magdalena Jurewicz 561,588 682,402 199,454 280,614 – cash fixed renumeration 320,000 318,000 – share-based incentive program 241,588 364,402 Supervisory Board 203,800 186,000 362,669 570,479 Rafał Olesiński 55,800 51,000 5,419 8,524 Maciej Marszałek 32,400 30,000 356,400 560,617 Wiktor Schmidt 26,400 24,000 0 0 Marcin Biłos 30,400 27,000 0 0 Kinga Stanisławska 29,400 27,000 851 1,338 Arkadiusz Pernal 29,400 27,000 0 0 Affiliates (Ten Square Games S.A.) 28,500 28,000 N/A N/A Maciej Popowicz 28,500 28,000 N/A N/A Key personnel (Ten Square Games S.A.) 0 0 N/A N/A Family members of key personnel / Management Board (Ten Square Games S.A.) 0 0 N/A N/A AFFILIATED PERSON Liabilities/provisions Receivables PERIOD 30.06.2026 30.06.2025 30.06.2026 30.06.2025 Management Board 364,063 493,762 783 1,360 Andrzej Ilczuk 302,563 432,262 783 1,360 Janusz Dziemidowicz 61,500 61,500 0 0 Magdalena Jurewicz 0 0 0 0 Supervisory Board 0 0 0 0 Affiliated persons (Ten Square Games S.A.) 5,535 5,535 0 0 Key personnel (Ten Square Games S.A.) 0 0 0 0 Family members of key personnel / Management Board (Ten Square Games S.A.) 0 0 0 0 80 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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AFFILIATED PARTY Net sales Net purchase Dividend Earn-out payment PERIOD 01.01.2026 – 30.06.2026 01.01.2025 – 30.06.2025 01.01.2026 – 30.06.2026 01.01.2025 – 30.06.2025 01.01.2026 – 30.06.2026 01.01.2025 – 30.06.2025 01.01.2026 – 30.06.2026 01.01.2025 – 30.06.2025 Subsidiaries: 2,801,250 3,998,135 225,540 0 10,907,694 10,043,303 0 0 Play Cool Zombie Sport Games Sp. z o.o. 8,700 8,700 0 0 0 0 0 0 RORTOS S.R.L. 2,792,550 3,989,435 225,540 0 10,907,694 10,043,303 0 0 Personally affiliated entities: 0 0 10,300 92,453 0 0 17,329,622 14,077,384 Olesiński i Wspólnicy Spółka komandytowa 0 0 10,300 92,453 0 0 0 0 Roberto Simonetto 0 0 0 0 0 0 10,403,847 8,428,415 Antonio Farina 0 0 0 0 0 0 6,925,775 5,648,969 Associates: 576,765 554,243 0 0 0 0 0 0 Gamesture Sp. z o.o. 576,765 554,243 0 0 0 0 0 0 14.2. Other affiliated persons AFFILIATED PARTY Gross receivables Gross payables Loans AS AT 30.06.2026 30.06.2025 30.06.2026 30.06.2025 30.06.2026 30.06.2025 Subsidiaries: 1,485,124 1,603,098 121,184 0 0 0 Play Cool Zombie Sport Games Sp. z o.o. 1,784 3,567 0 0 0 0 RORTOS S.R.L. 1,483,340 1,599,531 121,184 0 0 0 Personally affiliated entities: 0 0 0 16,157,002 0 0 Olesiński i Wspólnicy Spółka komandytowa 0 0 0 0 0 0 Roberto Simonetto 0 0 0 9,656,947 0 0 Antonio Farina 0 0 0 6,500,055 0 0 Associates: 354,710 354,710 0 0 1,563,148 1,453,645 Gamesture Sp. z o.o. 354,710 354,710 0 0 1,563,148 1,453,645 Transactions between the Parent Company and Rortos S.r.l. consist of production/maintenance support for Rortos games, for which the Parent Company receives remuneration. The Parent Company uses legal/tax services provided by the law firm Olesiński i Wspólnicy Sp.k. on an as-needed basis, each time based on a valuation of work for a given project or on an hourly rate. Transactions between related parties were carried out on terms equivalent to those applicable to transactions concluded on an arm’s length basis. The earn-out payment to Mr Roberto Simonetto and Mr Antonio Farina, the former owners, results from the acquisition of 100% of the shares in Rortos. 81 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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15. INCENTIVE PROGRAMS BASED ON SHARES INCENTIVE PROGRAM FOR THE MANAGEMENT BOARD – DECEMBER 2023 [FINISHED] On December 19, 2023, the General Meeting of Shareholders of the Company adopted an incentive program for 2024-2025 addressed to members of the Company’s Management Board. The condition for receiving shares was to present an action plan for 2024 (1st tranche); meet financial criteria (Group’s results) for 2024-2025 (2nd and 3rd tranches); remain on the Company’s Management Board. In total, participants could purchase up to 37,500 shares in three tranches. After meeting the program’s conditions, participants could purchase shares for a nominal share price of PLN 0.10 per share. The shares used in this program came from the share buyback that took place in the first quarter of 2022. The shares transferred to program participants are subject to a sale time lock up. As at the date of issue of this report, under the settlement of the program: » in the first quarter of 2024, 12,500 shares were delivered to participants (1st tranche); » in the second quarter of 2025, 8,125 shares were delivered to participants, corresponding to the achievement of the target in the range of PLN 105-110 million Adjusted EBITDA and therefore 65% of the original share allocation (2nd tranche); and » in the second quarter of 2026, 8,125 shares were delivered to participants, corresponding to the achievement of the target in the range of PLN 95-99 million Adjusted EBITDA and therefore 65% of the original share allocation (3rd tranche). INCENTIVE PROGRAM FOR KEY PERSONNEL – DECEMBER 2023 [FINISHED] On December 21, 2023, the Management Board of the Parent Entity adopted an incentive program for 2024- 2025 for key personnel (i.a. employment contract, B2B) of the Capital Group. The condition for receiving shares was meeting individual quality criteria for participants; financial criteria (Group results); criterion of remaining employed within the Group. In total, participants were able to purchase up to 32,400 shares in three tranches. After meeting the program conditions, participants were able to purchase shares for a nominal share price of PLN 0.10 per share. The shares used in this program came from share buybacks that took place in the first quarter of 2022 and 2024. The shares transferred to program participants are subject to a time lock-up before they will be able to sell them. As at the date of issue of this report, under the settlement of the program: » in the first quarter of 2024, 10,800 shares were delivered to participants (1st tranche); » in the second quarter of 2025, 7,020 shares were delivered to participants (2nd tranche); » in the second quarter of 2026, 3,575 shares were delivered to participants (3rd tranche). 82 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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INCENTIVE PROGRAM FOR 2025–2029 On May 14, 2025, the General Meeting of Shareholders of the Company adopted an incentive program for the years 2025 – 2029 aimed at key employees, collaborators, and members of the Company’s Management Board. The program consists of three tranches: Tranche I: 2025–2027, Tranche II: 2026–2028, Tranche III: 2027–2029. In total, up to 323,799 rights (to Company shares) may be granted under all tranches, representing approximately 5% of the Company’s share capital. Under Tranche I participants may acquire rights (to Company shares) upon the achievement of: » a performance condition (80% weighting), and » a market condition (20% weighting). The market condition is defined as the Company’s share price outperforming the WIG index by 10 percentage points during the respective tranche period. Additionally, individual targets may be set for certain participants. For Tranche I (2025–2027), the performance target has been set at PLN 438 million in cumulative Adjusted EBITDA for the years 2025–2027. Partial achievement of the target entitles participants to acquire shares according to the table below: % ACHIEVEMENT OF THE PERFORMANCE CONDITION % OF RIGHTS UNDER THE PERFORMANCE CONDITION 100% 100% 91% 65% 83% 35% Under Tranche II and subsequent tranches, participants will be able to acquire rights (Company shares) subject to the achievement of: » the performance condition (60% weighting); » the market condition (40% weighting). The market condition means that the Company’s share price performance must exceed the WIG index performance by 10 percentage points for each tranche. In addition, individual targets may be set. 83 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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For Tranche II (2026-2028), the performance target was set at PLN 360 million of cumulative Adjusted-marketing EBITDA* for 2026-2028. Partial achievement of the target entitles participants to acquire shares in accordance with the table below: % ACHIEVEMENT OF THE PERFORMANCE CONDITION % OF RIGHTS UNDER THE PERFORMANCE CONDITION 100% 100% 91% 65% 83% 35% After the programme condition has been met, participants will be able to acquire shares at the nominal share price of PLN 0.10 per share. The shares used in this programme will come from a buy-back of the Company’s own shares or from a new issue. As at the date of issue of these financial statements, 215,260 rights have been initially allocated (Tranche I and Tranche II), and the programme cost recognised in 2026 in the amount of PLN 1.9 million corresponds to the range of achievement of the performance target entitling participants to acquire 35% of the initial share allocation, both under Tranche I and Tranche II, assuming that the market target is met. * The Group’s Adjusted-marketing EBITDA means the profit from operating activities achieved by the Group for a given financial year, as disclosed in the consolidated financial statements, increased by depreciation of property, plant and equipment and amortisation of intangible assets, adjusted for: (i) extraordinary and non-recurring events; (ii) costs of share-based incentive programmes in accordance with the financial reporting standards applicable to the Company (IFRS 2); (iii) the impact of non-cash revenue adjustments, and the related distributor commission costs, connected, for example, with the deferral of revenue from virtual currency (consumables) and durable virtual goods (durables); (iv) the impact of any one-off impairment write-downs of investment expenditure incurred to develop mobile games; (v) the impact of deferring game marketing costs over time, in accordance with the following formula: – marketing expenditure incurred in the last three months before the end of a given Tranche is charged to the result at 50% of the cost incurred; – marketing expenditure incurred in the period from three to six months before the end of a given Tranche is charged to the result at 70% of the cost incurred; – marketing expenditure incurred in the period from six to nine months before the end of a given Tranche is charged to the result at 85% of the cost incurred; – marketing expenditure incurred in the period from nine to twelve months before the end of a given Tranche is charged to the result at 95% of the cost incurred; – marketing expenditure incurred more than one year before the end of a given Tranche is charged to the result at 100% of the cost incurred. OTHER INCENTIVE PROGRAMS In order to attract gaming industry talent from around the world to the Group, the Company’s Management Board may also allocate a portion of treasury shares repurchased from the market to individual, one-off incentive programmes. In 2026, under such programmes, 13,000 shares were initially allocated to persons of key importance to the Group. The accounting cost of the programme recognised in 2026 amounted to PLN 0.5 million. 84 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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16. LITIGATION The Group had no pending lawsuits in either 2026 or 2025. 17. OTHER IMPORTANT EVENTS There were no other significant events not described above that could affect the financial data included in the report for the period ended June 30, 2026. 18. EVENTS AFTER BALANCE SHEET DATE There were no significant events after the balance sheet date that could affect the financial data presented in the financial statements for the period ended 30 June 2026. 85 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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INTERIM CONDENSED STANDALONE FINANCIAL STATEMENT V
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1. INTERIM CONDENSED STANDALONE STATEMENT OF COMPREHENSIVE INCOME CONDENSED STANDALONE STATEMENT OF COMPREHENSIVE INCOME for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Revenues from the sales of services 157,860,805 152,553,058 Costs of services sold 22,921,466 20,842,313 Gross profit (loss) on sales 134,939,339 131,710,745 Other operating revenues 605,787 517,984 Selling costs 95,277,658 71,254,414 General and administrative costs 11,616,372 11,540,073 Other operating costs 963,424 237,211 Operating profit (loss) 27,687,672 49,197,031 Financial revenues 13,343,703 12,499,413 Financial costs 1,304,653 4,661,847 Profit on associates 522,833 375,648 Profit / loss before taxation 40,249,555 57,410,245 Income tax 2,278,743 2,623,495 Net profit on continued activity 37,970,812 54,786,750 Items for requalification for the profit and loss statement in the subsequent periods 0 0 Items which will not be subject to requalification for the profit and loss statement in the subsequent periods 0 0 TOTAL COMPREHENSIVE INCOME 37,970,812 54,786,750 87 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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CALCULATION OF EARNINGS PER SHARE for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Number of shares the weighted average number of shares for the purpose of calculating the value basic of earnings per share (in units) 6,476,000 6,476,000 the weighted average number of shares for the purpose of calculating the value of diluted earnings per share (in units) 6,362,865 6,359,865 net profit assigned to the Parent Entity 37,970,812 25,957,044 Net earnings per share on continued operations in PLN basic for the financial period 5.86 4.01 diluted for the financial period 5.97 4.08 Net earnings per share attributable to discontinued operations in PLN basic for the financial period 0.00 0.00 diluted for the financial period 0.00 0.00 EARNINGS PER SHARE 88 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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1.2. INTERIM CONDENSED STANDALONE STATEMENT OF COMPREHENSIVE INCOME [IFRS 18] Starting from January 1, 2027, the Group will present its standalone statement of comprehensive income in accordance with the new IFRS 18 standard. The Group has decided to voluntarily present the data in the new format already for 2026. INTERIM CONDENSED STANDALONE STATEMENT OF COMPREHENSIVE INCOME [IFRS 18] for the period 01.01.2026 – 30.06.2026 Revenues from the sales of services 157,860,805 Cost of services sold -22,921,466 Gross profit (loss) on sales 134,939,339 Other operating income 605,787 Selling costs -95,277,658 General and administrative costs -11,616,372 Other operating costs -963,423 Foreign exchange differences on operating activities 1,087,940 OPERATING PROFIT (LOSS) [A] 28,775,613 Interest income 1,347,436 Dividend income 10,907,694 Share in profits of associates 522,834 Profit/loss from investing activities [B] 12,777,964 PROFIT BEFORE FINANCING AND TAXATION [A+B] 41,553,576 Interest expense on leases -172,781 Other finance costs -1,131,240 Profit/loss from financing activities [C] -1,304,021 PROFIT BEFORE TAXATION [A+B+C] 40,249,555 Income tax -2,278,743 Net profit (loss) on continued activity 37,970,812 Items that may be reclassified subsequently to profit or loss 0 Items that will not be reclassified to profit or loss 0 Total comprehensive income 37,970,812 89 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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ASSETS 30.06.2026 31.12.2025 30.06.2025 Fixed assets 242,321,830 242,320,467 242,929,972 Tangible fixed assets 5,831,575 7,333,507 9,001,033 Intangible assets 4,815,257 3,279,516 3,400,796 Investments in associates 202,173,470 202,173,470 202,284,550 Other financial assets 24,702,522 24,787,733 23,503,483 Deferred income tax assets 4,799,006 4,746,241 4,740,110 Current assets 103,927,237 146,761,999 110,724,609 Receivables 32,236,169 33,055,130 30,070,321 Current income tax receivable 0 97,759 7,718 Customer contracts liabilities 17,135,070 17,758,111 18,023,379 Loans granted 1,563,148 1,508,847 1,453,645 Cash and cash equivalents 52,992,850 94,342,152 61,169,546 TOTAL ASSETS 346,249,067 389,082,466 353,654,581 2. INTERIM CONDENSED STANDALONE STATEMENT OF FINANCIAL SITUATION 90 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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EQUITY & LIABILITIES 30.06.2026 31.12.2025 30.06.2025 Equity 222,705,336 246,128,702 216,536,895 Share capital 647,600 647,600 647,600 Share premium 496,100 496,100 496,100 Capital from the settlement of the incentive scheme 104,643,248 102,292,075 101,549,317 Retained earnings 130,505,232 156,640,053 127,791,004 Own shares (negative value) -13,586,844 -13,947,126 -13,947,126 Long-term liabilities 3,809,243 4,706,074 5,866,780 Deferred income tax provisions 933,728 623,108 743,896 Lease liabilities 1,273,275 2,497,166 3,706,736 Provisions for employee benefits 1,602,240 1,585,800 1,416,148 Short-term liabilities 119,734,488 138,247,690 131,250,906 Trade liabilities 12,626,330 13,106,077 7,871,000 Income tax provision 23,435,773 23,435,773 23,435,773 Current income tax liabilities 476,488 0 0 Lease liabilities 2,505,176 2,379,818 2,304,008 Other liabilities 1,138,665 18,992,402 17,119,028 Provisions for employee benefits 3,378,458 3,634,873 3,460,656 Contract liabilities 76,173,598 76,698,747 77,060,441 TOTAL EQUITY & LIABILITIES 346,249,067 389,082,466 353,654,581 91 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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3. INTERIM CONDENSED STANDALONE STATEMENT OF CHANGES IN EQUITY for the period of 6 months ended 30.06.2026 Share capital Share premium Capital from settlement of incentive program Retained earnings Own shares TOTAL EQUITY Equity as at 01.01.2026 647,600 496,100 102,292,075 156,640,053 -13,947,126 246,128,702 Equity contribution 300 300 Share-based payments 2,351,173 2,351,173 Dividend payment -63,745,651 -63,745,651 Transfer of treasury shares -359,982 359,982 0 Net profit 37,970,812 37,970,812 Total comprehensive income 37,970,812 37,970,812 Equity as at 30.06.2026 647,600 496,100 104,643,248 130,505,232 -13,586,844 222,705,336 92 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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for the period of 6 months ended 30.06.2025 Share capital Share premium Capital from settlement of incentive program Retained earnings Own shares TOTAL EQUITY Equity as at 01.01.2025 647,600 496,100 99,448,841 174,862,246 -15,765,955 259,688,832 Equity contribution 1,515 1,515 Share-based payments 2,100,475 2,100,475 Dividend payment -100,040,677 -100,040,677 Transfer of treasury shares -1,817,315 1,817,315 0 Net profit 54,786,750 54,786,750 Total comprehensive income 54,786,750 54,786,750 Equity as at 30.06.2025 647,600 496,100 101,549,316 127,791,004 -13,947,125 216,536,895 for the period of 12 months ended 31.12.2025 Share capital Share premium Capital from settlement of incentive program Retained earnings Own shares TOTAL EQUITY Equity as at 01.01.2025 647,600 496,100 99,448,841 174,862,246 -15,765,955 259,688,832 Equity contribution 1,515 1,515 Share-based payments 2,843,234 2,843,234 Dividend payment -100,040,676 -100,040,676 Transfer of treasury shares -1,817,314 1,817,314 0 Net profit 83,635,797 83,635,797 Total comprehensive income 83,635,797 83,635,797 Equity as at 31.12.2025 647,600 496,100 102,292,075 156,640,053 -13,947,126 246,128,702 93 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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4. INTERIM CONDENSED STANDALONE CASH FLOW STATEMENT STANDALONE CASH FLOW STATEMENT for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 OPERATING ACTIVITY Profit/loss before taxation 40,249,555 57,410,245 Total corrections: -4,654,294 -7,698,795 Amortization 2,195,066 2,175,565 Profit/loss on exchange differences -82,343 497,323 Gain / loss from valuation of funds 1,131,240 0 Interest paid on lease 172,299 248,708 Interest on deposits -302,205 -890,570 Interest on liabilities (Rortos) 0 540,801 Interest and share in profits (dividends) -10,907,694 -10,043,303 Change in receivables 818,961 7,826,171 Change in liabilities and accrued expenses -241,538 -4,609,154 Change in contract liabilities -525,149 -9,271,659 Change in contract assets 623,041 4,140,113 Impairment loss on intangible assets 697,232 0 Share-based payments (part not included in capitalization of intangible assets) 2,351,173 2,100,476 Loss (profit) on associates -522,834 -375,648 Loss (profit) on sales of fixed assets -61,543 -37,618 Cash on operating activity 35,595,261 49,711,450 Income tax (paid) / refunded -1,446,641 -306,940 A. Net operating cash flow 34,148,620 49,404,510 94 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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STANDALONE CASH FLOW STATEMENT for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 INVESTMENT ACTIVITY Dividends from subsidiaries 10,907,694 10,043,303 Purchase of intangible and tangible fixed assets -2,938,277 -1,700,026 Disposal of intangible and fixed assets 73,713 38,123 Earn-out payment -18,049,159 -14,668,721 B. Net cash flow from investment activities -10,006,029 -6,287,321 FINANCIAL ACTIVITY Net proceeds from issuance of shares and other equity instruments and capital contributions 300 1,515 Dividends from subsidiaries -63,745,650 -100,040,678 Payments of financial lease liabilities -1,339,864 -1,222,974 Interest on lease -172,299 -248,708 Other financial expenditure -15,594 -16,063 C. Net cash flow from financing activity -65,273,107 -101,526,908 D. Total net cash flow -41,130,516 -58,409,719 – change in cash due to exchange losses/gains -218,786 1,454,180 E. Increase in cash and cash equivalents (including foreign exchange differences) -41,349,302 -56,955,539 F. Cash at the beginning of the period 94,342,152 118,125,085 G. Cash at the end of the period 52,992,850 61,169,546 * Comparative data for the period from 1 January to 30 June 2025 has been restated due to the reclassification of dividends received from subsidiaries in the amount of PLN 10,043,303 from financing activities to investing activities. The reclassification had no impact on total net cash flows or on the balance of cash and cash equivalents. 95 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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ADDITIONAL NOTES TO THE STANDALONE FINANCIAL STATEMENT VI
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1. SALES REVENUES SPECIFICATION for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Sales of services 157,860,805 152,553,058 TOTAL revenues from sales of services 157,860,805 152,553,058 Other operating revenues 605,787 517,984 Financial revenues 13,814,836 12,499,413 TOTAL revenues from continuing operations 172,281,428 165,570,455 TOTAL revenues 186,702,051 165,570,455 There were no revenues from discontinued operations. TYPE OF REVENUES bookings 01-06.2026 share in bookings 01-06.2026 bookings 01-06.2025 share in bookings 01-06.2025 Micro-payments 149,365,497 95.0% 143,036,222 99.8% Advertisements 7,742,053 4.9% 2,950 0.0% Licenses 228,106 0.1% 242,228 0.2% TOTAL BOOKINGS 157,335,656 100.0% 143,281,400 100.0% Deferred income (consumables) 1,251,649 N/A -1,950,450 N/A Deferred income (durables) -726,500 N/A 11,222,108 N/A TOTAL REVENUES 157,860,805 N/A 152,553,058 N/A 1.1. Revenues by source 97 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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GAME bookings 01-06.2026 share in bookings 01-06.2026 bookings 01-06.2025 share in bookings 01-06.2025 Fishing Clash 92,716,367 59.0% 101,352,902 70.7% Hunting Clash 28,685,797 18.2% 33,865,015 23.6% Trophy Hunter 28,671,395 18.2% 70,954 0.0% Let's Fish 4,272,296 2.7% 4,215,566 2.9% Wild Hunt 2,670,082 1.7% 3,700,384 2.6% Medal Hunter 264,610 0.2% 0 0.0% Other 55,109 0.0% 76,579 0.2% TOTAL BOOKINGS 157,335,656 100.0% 143,281,400 100.0% Deferred income (consumables) 1,251,649 N/A -1,950,450 N/A Deferred income (durables) -726,500 N/A 11,222,108 N/A TOTAL REVENUES 157,860,805 N/A 152,553,058 N/A BUSINESS PARTNER bookings 01-06.2026 share in bookings 01-06.2026 bookings 01-06.2025 share in bookings 01-06.2025 Google Inc. 72,852,101 46.3% 67,665,561 47.2% Apple Distribution International 33,200,867 21.1% 35,278,198 24.6% Appcharge Inc. 17,896,996 11.4% 14,260,984 10.0% Adyen N.V. 8,171,529 5.2% 7,828,381 5.5% Aghanim Inc. 7,550,843 4.8% 0 0.0% Xsolla Inc. 2,124,526 1.4% 11,782,099 8.2% Others 15,538,794 9.8% 6,466,177 4.5% TOTAL BOOKINGS 157,335,656 100.0% 143,281,400 100.0% Deferred income (consumables) 1,251,649 N/A -1,950,450 N/A Deferred income (durables) -726,500 N/A 11,222,108 N/A TOTAL REVENUES 157,860,805 N/A 152,553,058 N/A 1.2. Revenues by games 1.3. Revenues by business partner 98 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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DISTRIBUTION CHANNEL bookings 01-06.2026 share in bookings 01-06.2026 bookings 01-06.2025 share in bookings 01-06.2025 Mobile 151,556,437 96.3% 137,165,376 95.7% Browsers 5,779,219 3.7% 6,116,024 4.3% TOTAL BOOKINGS 157,335,656 100.0% 143,281,400 100.0% Deferred income (consumables) 1,251,649 N/A -1,950,450 N/A Deferred income (durables) -726,500 N/A 11,222,108 N/A TOTAL REVENUES 157,860,805 N/A 152,553,058 N/A REGION bookings 01-06.2026 share in bookings 01-06.2026 bookings 01-06.2025 share in bookings 01-06.2025 North America 65,089,110 41.4% 58,235,934 40.6% Europe 69,956,634 44.5% 65,567,701 45.8% including Poland 10,226,845 6.5% 10,129,131 7.1% Asia 12,925,766 8.2% 11,576,605 8.1% South America 5,101,472 3.2% 4,005,028 2.8% Australia and Oceania 2,859,320 1.8% 2,818,860 2.0% Africa 1,403,354 0.9% 1,077,272 0.8% TOTAL BOOKINGS 157,335,656 100.0% 143,281,400 100.0% Deferred income (consumables) 1,251,649 N/A -1,950,450 N/A Deferred income (durables) -726,500 N/A 11,222,108 N/A TOTAL REVENUES 157,860,805 N/A 152,553,058 N/A 1.4. Revenues by distribution channel 1.5. Revenues – geographical division 99 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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2. OPERATING COSTS SPECIFICATION for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Amortization and depreciation 2,195,066 2,175,565 Consumption of materials and energy 342,799 312,664 Third-party services 106,511,705 82,094,959 Taxes and fees 1,097,703 746,097 Remuneration 17,356,000 15,272,543 Social insurance and other benefits 4,779,388 4,268,663 Other costs by type 158,884 158,377 Total costs by type, including: 132,441,545 105,028,868 Costs of goods sold 22,921,466 20,842,313 Selling costs 95,277,658 71,254,414 General and administrative costs 11,616,371 11,540,074 Cost of manufacturing products for the entity's own needs (capitalization) 2,626,050 1,392,067 100 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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3. FINANCIAL REVENUES SPECIFICATION for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Dividends received 10,907,694 10,043,303 Interest income 1,347,436 2,456,110 Excess of foreign exchange gains 1,088,573 0 Total 13,343,703 12,499,413 101 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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4. INCOME TAX AND DEFERRED TAX Starting from 2019, with the introduction of the so-called IP Box relief, the Parent Company uses preferential taxation of part of its income. This relief consists of taxing income from qualified property rights at a rate of 5% instead of the standard 19%. The Entity recognizes its games as qualified property rights and therefore uses the IP Box relief for profitable titles. Due to the fact that the relief is relatively new in Polish law, for the years 2019 and 2020 the Company settled and paid the tax using only part of the preferences. Partial application of the preferences consisted in the calculation of the Nexus ratio in a way that limited the possibility of taxing the Company’s income with the 5% tax rate. As the practice developed, in 2022 the Company decided to apply the relief more widely and submitted an annual CIT declaration for 2021 with full application of the relief. In addition, at the beginning of 2023, the Company submitted a CIT adjustment for 2019 and 2020, also taking into account the wider application of the relief, enabling the Company to tax a larger part of its income with the 5% tax rate. No further adjustments are planned. The submission of corrections to the declaration resulted in the initiation of a customs and tax inspection for 2020. Simultaneously with the customs and fiscal inspection, the Company was subject to tax proceedings regarding the determination of an overpayment in corporate income tax for 2019 and 2020. After a positive conclusion of the tax proceedings, the Company received in May 2023. tax refund for 2019-2020 in the total amount of PLN 12.5 million (PLN 3.6 million for 2019 and PLN 8.9 million for 2020). Therefore, write-downs for tax receivables for the financial years 2019 and 2020 were reversed. Currently, as at the date of issue of these financial statements, the audit has been suspended, as the Polish authority deemed it necessary to request tax information from the tax authorities of other Member States and third countries, which is required to complete the customs and tax audit. Until responses are received from those authorities – which is entirely beyond the Parent Company’s control – the audit cannot be completed. However, due to the fact that the inspection has not been completed, The Company recognized a provision for tax in the amount of returns received. This solution is a continuation of the Company’s approach to the prudent presentation of tax settlements – i.e. showing the amounts resulting from the corrections of declarations in the net carrying amount of PLN 0 as at balance sheet date. 102 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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The Company believes that the tax for 2021 has been settled in the correct amount and there is no need to pay additional tax, but due to the need to consistently recognize the tax liability/amount due for previous years, the Company recognizes a tax provision in the financial statements (PLN 10.9 million ). The CIT calculation for 2022- 2026 applying tax reliefs related to IP BOX to a narrower extent would result in an almost identical tax effect as applying the relief to a broader extent. Therefore, the Company did not recognise a provision or a receivable for any potential amount of tax payable or refundable. SPECIFICATION for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Taxable income 41,853,503 34,950,032 current income tax 2,020,888 1,747,502 deferred income tax 257,855 875,993 Income tax shown in comprehensive income report 2,278,743 2,623,495 CIT SETTLEMENTS 30.06.2026 31.12.2025 30.06.2025 Current CIT settlements -22,959,285 -23,338,014 -23,428,055 Liability related to the financial year 2026 476,488 0 0 Receivable related to the financial year 2025 0 97,759 7,718 Provision related to the financial year 2021 -10,894,769 -10,894,769 -10,894,769 Provision related to the financial year 2020 -8,941,882 -8,941,882 -8,941,882 Provision related to the financial year 2019 -3,599,122 -3,599,122 -3,599,122 103 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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SPECIFICATION for the period 01.01.2026 – 30.06.2026 for the period 01.01.2025 – 30.06.2025 Financial result (profit/loss) before tax 40,249,555 57,410,245 Exchange rate differences -1,203,456 1,742,674 Dividends received -10,907,694 -10,043,303 Write off of receivables (non-tax-deductible) 7,051 Release and recognition of vacation provision 366,613 19,149 Recognition and release of provision for other costs 175,808 285,872 Donations 35,947 -170,014 Amortization of intangible assets 364,819 0 Lease amortization 1,332,093 196,692 Capitalization of development costs -2,626,050 1,408,502 Other costs that are not tax deductible 181,564 -243,328 Impairment write-down of capitalised games 697,232 -1,392,067 Loss/profit on associates -522,834 0 Unwinding of discount, update of valuation 0 -2,036,282 Share based payments 2,351,173 0 Revenue (and related cost) deferred in the balance sheet in time 97,892 -375,648 R&D relief -5,923,236 540,801 Other tax deductible costs not included in the balance sheet costs -1,457,282 2,100,476 Loss on valuation of investment units (SISU fund) 1,131,240 -5,131,545 Loss from previous years 0 -6,667,306 Taxable income 24,050,571 -1,446,461 Financial result (profit/loss) before tax 40,249,555 -1,248,425 Exchange rate differences -1,203,456 34,950,032 including income taxed at 5% (IP Box) 40,413,009 34,950,032 including income taxed at 19% -16,362,438 0 RECONCILIATION OF GROSS PROFIT WITH TAXABLE INCOME: 104 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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STRUCTURE OF DEFERRED INCOME TAX ASSETS: STRUCTURE OF DEFERRED INCOME TAX PROVISION: SPECIFICATION 30.06.2026 31.12.2025 30.06.2025 result deferred in time – consumables (per balance) 647,744 695,675 716,166 result deferred in time – durables (per balance) 2,337,149 2,309,059 2,323,244 holiday provision 371,473 301,816 309,423 provision for audit costs 7,980 25,270 10,640 lease – IFRS 16 valuation 630,079 743,125 799,444 valuation of settlements 0 48,152 0 provision for remuneration 559,156 589,857 527,140 other provisions 249,347 33,287 54,053 Total 4,802,928 4,746,241 4,740,110 SPECIFICATION 30.06.2026 31.12.2025 30.06.2025 amortization of games 914,899 623,108 646,151 revaluation of receivables and payables 108,344 0 97,745 Total 1,023,243 623,108 743,896 Deferred income tax assets and liabilities are measured using the tax rates that, according to available forecasts, will be applied at the moment of realizing the asset or dissolving the liability. For a significant part of temporary differences, a rate of 5% was applied, resulting from the use by the Company of the IP Box tax relief. 105 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.
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Wrocław, 24 August 2026 PRESIDENT OF THE MANAGEMENT BOARD Andrzej Ilczuk MEMBER OF THE MANAGEMENT BOARD Janusz Dziemidowicz MEMBER OF THE MANAGEMENT BOARD Magdalena Jurewicz APPROVAL OF THE FINANCIAL STATEMENT This report for the period from January 1 to June 30, 2026 was signed and approved for publication by the Management Board of Ten Square Games S.A. on August 24, 2026. 106 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENT of Ten Square Games S.A. Group for the period 01.01.2026 – 30.06.2026 This document is a non-binding translation of the graphical version of the official financial statements published by the ESPI channel.