Interim report
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1 Back to content Gentoo Media | Q2 2026 Interim Report Gentoo Media Inc. 26 August 2026 Q2 2026
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2 Gentoo Media | Q2 2026 Interim Report Content 2 | Review of the business Company overview Our business model Company strategy Financial review Operational review 4 | Financials Gentoo Media Plc. Consolidated statement of comprehensive income Consolidated balance sheets Consolidated statement of cash flows 1 | Executive summary Quarterly highlights Letter from the CEO 3 4 5 14 15 16 18 19 20 22 30 31 33 34 6 7 8 9 10 12 3 | Financials Gentoo Media Inc. Financial highlights Consolidated statement of comprehensive income Consolidated balance sheets Consolidated statement of cash flows Consolidated statement of changes in equity Notes Q4 2025 Interim Report
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3 Back to content Gentoo Media | Q2 2026 Interim Report 4 1.1 Quarterly highlights 5 1.2 Letter from the CEO Back to content Executive summary 1.0
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4 Back to content Gentoo Media | Q2 2026 Interim Report Quarterly highlights 1.1 | Quarterly highlights Operational cashflow (EUR million) 6.4 7.4 8.6 14.0 7.4 Q2 26Q2 25 Q3 25 Q4 25 Q1 26 First time depositors (FTDs '000) Paid 81.4 136.2 101.9 109.1 102.9 Publishing 34.1 49.7 83.7 56.6 55.4 47.3 Q2 26Q2 25 Q3 25 Q4 25 Q1 26 52.5 52.252.5 47.5 Value of deposits (EUR million) Q2 26Q2 25 Q3 25 Q4 25 Q1 26 201195 207 195 202 Revenue & EBITDA (EUR million) 24 22.9 25.0 22.7 25.6 8.9 Q2 26Q2 25 Q3 25 Q4 25 Q1 26 9.38.4 14.8 10.5 EBITDA* Revenue *EBITDA before special items
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5 Back to content Gentoo Media | Q2 2026 Interim Report 1.2 | Letter from the CEO Back to contentGentoo Media | Q2 2026 Interim Report Dear Shareholders, The second quarter of 2026 showed continued operational and financial progress, with strong growth in player intake and activity, although revenue was below our expectations. The FIFA World Cup marked the quarter, and contributed to a meaningful increase in player intake, while value of deposits reached an all-time high. This increased activity did not translate into an immediate revenue uplift, partly reflecting softer sports margins and the timing of revenue recognition from newly acquired revenue-share players. However, the larger and more active player base provides the potential to generate recurring revenue over future periods. Revenue was EUR 22.9 million, down 9% from EUR 25.0 million in Q2 2025. The decline also reflected the continued effects of last year’s portfolio simplification. Despite lower revenue, EBITDA before special items increased 5% to EUR 8.9 million, with the margin expanding by five percentage points to 39%. Our structurally lower cost base absorbed the revenue decline while allowing us to increase marketing investment around the World Cup. Total marketing spend and OPEX decreased by 16% year-over-year, demonstrating continued cost discipline. The underlying commercial indicators were encouraging. Player intake increased 25% quarter-over- quarter to 101,900 FTDs, with growth across both Paid and Publishing. Value of deposits reached an all-time high of EUR 207 million, increasing 6% year-over-year and 3% quarter-over-quarter. Paid acquisition scaled materially around the World Cup, with player intake increasing 46% quarter-over-quarter. We continued to invest across sports, product, technology, automation and acquisition. Product development centred on AskGamblers and Casinomeister, alongside enhancements to several sports products ahead of the World Cup. Further websites migrated to our next- generation platform, reducing technical complexity and enabling faster product, content and SEO execution. We also launched an internal AI assistant for our Publishing teams, increasing content production and editing efficiency while freeing specialist resources for higher-value work. Cash flow and balance sheet discipline remained priorities. Operating cash flow was EUR 6.4 million, down 13% year-over-year, negatively impacted by EUR 2.0 million of accelerated supplier payments. Excluding these payments, operating cash flow increased 13% year-over- year, with underlying cash conversion of 95%. Deleveraging continued, with net interest-bearing debt and deferred consideration liabilities decreasing by EUR 2.0 million during the quarter. The leverage ratio improved to 2.58x from 2.99x a year earlier. The Board and management continue to evaluate refinancing alternatives for the outstanding bond maturing in late 2026. Returning the business to top-line growth is our clearest priority for the remainder of the year. The operational and organisational changes implemented over the past year have created a leaner business with a structurally stronger margin profile. We enter the second half with a larger and more active player base, a more scalable Paid channel and a Publishing organisation increasingly focused on its highest-potential brands. Our task now is to convert stronger player activity into revenue growth. Our priorities remain higher-quality revenue, stronger flagship brands, expanded multi-channel acquisition, improved player value and continued investment in technology, product and design. Following the completion of Q2, we have updated our full- year 2026 guidance to reflect the current revenue trajectory and our expectations for the remainder of the year. While the near-term market environment remains challenging, the progress in player activity, cost efficiency and cash generation provides a stronger foundation for future growth. I would like to thank our employees for their continued commitment and execution, and our partners and shareholders for their trust and support. Jonas Warrer Chief Executive Officer 5
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6 Gentoo Media | Q2 2026 Interim Report Back to content 7 2.1 Company Overview 8 2.2 Our business model 9 2.3 Company Strategy 10 2.4 Financial review 12 2.5 Operational review Review of the business 2.0 7 2.1 Company Overview 8 2.2 Our business model 9 2.3 Company Strategy 10 2.4 Financial review 12 2.5 Operational review Review of the business 2.0 6 Gentoo Media | Q2 2026 Interim Report Back to content
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7 Back to content Gentoo Media | Q2 2026 Interim Report Company overview Company wide gender split Full time employees Female 54.1% Male 45.9% 25% Female 75% Male 36.0% Female 64.0% Male Team leads 63.4% Female 36.6% Male Directors Heads C-level 15.4% Female 84.6% Male 54.5% Female 45.5% Male 283 Managers Nationalities 43 2.1
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8 Gentoo Media | Q2 2026 Interim Report Back to content Gentoo Media operates an always-on, multi-channel audience acquisition platform across search, paid media and emerging AI-driven discovery channels. The Company connects high-value players with leading online gaming operators and monetises this traffic primarily through recurring revenue share agreements. Our portfolio of digital assets attracts high-intent users across both traditional search engines and emerging AI-driven discovery platforms. At the same time, our paid media capabilities - spanning search engine marketing, social platforms and programmatic display - enable scalable and data-driven customer acquisition across markets. This multi-channel approach supports continuous optimisation of traffic acquisition, conversion and player value, leveraging synergies between channels. Revenue is generated primarily through performance-based commissions on players referred to operator partners. The majority of revenue is derived from recurring revenue share agreements, under which Gentoo Media receives a share of the lifetime value generated by referred players. This creates a stable and compounding revenue stream aligned with operator performance. To a lesser extent, revenue is also generated through CPA (cost-per-acquisition) agreements, where the Company receives fixed payments for qualifying player acquisitions. Additional revenue is generated through listing and marketing fees, providing operators with premium visibility across the Group’s high-intent digital environments. This diversified and performance-driven model aligns Gentoo Media’s growth closely with that of its partners, supporting strong scalability, profitability and cash flow generation. With a portfolio of more than 65 websites and a global multi-channel presence, the Company continuously optimises traffic sources, technology and commercial partnerships to remain competitive globally. At its core, Gentoo Media serves as the digital storefront of the iGaming industry - the place where high-value players discover, evaluate and engage with leading iGaming brands across search, paid media and emerging AI-driven discovery channels. Our business model 2.2 Commission models Revenue sharing (~60%): Recurring rev. with high earnings potential via compounding effect, as revenue from cohorts grows over time Listing fee/other (~30%): Fixed payment for exposure, requiring high traffic volume to attract advertisers CPA (~10%): One-time payment with low earning potential and high risk, as revenue declines immediately if traffic or rates drop Leads directed Leads converted Commission1 1 2 3 2 3 Potential user Gentoo media partners End-user (NDC) Publishing Affiliate websites Paid channels
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9 Back to content Gentoo Media | Q2 2026 Interim Report A stronger platform enables better user experience, higher conversion and more efficient scaling and benefit better technical tools 06 Superior tech, product and design Improved conversion and partner alignment increase revenue per user and support margin expansion 05 Higher player value A diversified acquisition model reduces channel dependency and supports more resilient and scalable traffic growth 04 Multi-channel acquisition Targeted investment in proven markets enables efficient growth with strong competitive positioning and attractive returns 03 Win with local champion sites Scaling core brands increases the share of high quality traffic and reve- nue, strengthening the overall portfolio 02 Stronger flagship brands A simpler operating model drives faster execution, better capital allocation and improved scalability 01 Reduced complexity Company strategy 2.3 Gentoo Media’s strategy is focused on building a leaner, higher-quality and more scalable affiliate business centred around the brands, markets and channels with the strongest long-term monetisation potential. The Company continues to simplify its operating model, strengthen flagship brands and prioritise initiatives that support sustainable revenue growth, profitability and cash generation. At the same time, the Company continues to adapt to evolving search and discovery behaviour. While traditional organic search remains a core traffic channel, AI-driven discovery platforms and changing user behaviour are gradually reshaping how users discover and engage with content online. In response, Gentoo Media continues to invest in product, technology and platform development to improve visibility, user engagement and monetisation across both traditional search and emerging AI-driven discovery channels. A key strategic focus remains the development of scalable proprietary technology and product infrastructure, increasingly supported by AI-driven tools, automation and generative AI-powered website development. Continued investments supported by AI - in conversion optimisation, partner optimisation and data capabilities are expected to strengthen revenue quality, operational efficiency and long-term monetisation across the business.
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10 Back to content Gentoo Media | Q2 2026 Interim Report Income statement Revenue Revenue for Q2 2026 amounted to EUR 22.9 million, compared with EUR 25.0 million in Q2 2025 (restated), representing a decline of 9% year on year. The decline partly reflected the continued impact of the portfolio simplification undertaken in 2025, as well as changes in UK market economics following tax changes. The World Cup did not generate the anticipated revenue uplift during the quarter. Player intake and player activity increased quarter on quarter, supported by higher marketing investment and the FIFA World Cup. Player intake reached 101,900 FTDs, while value of deposits exceeded EUR 200 million for the third consecutive quarter and reached an all-time high of EUR 207 million. However, the stronger player activity did not translate into a corresponding revenue uplift in Q2. Revenue-share earnings are generated over the lifetime of a player rather than solely at the point of acquisition. The combination of higher player intake and record deposits demonstrates stronger player activity and provides a foundation for future revenue growth. Revenue share represented 60% of total revenue, while CPA accounted for 12% and listing fees and other revenue accounted for 28%. Operating expenses Marketing expenses were EUR 6.8 (8.4) million with a marketing-to-revenue ratio at 30% (34%) in Q2 2026. Quarter-over-quarter marketing expenditure increased by 25%, as an investment to capture FIFA World Cup player acquisitions. Personnel- and other operating expenses amounted to EUR 7.2 (8.2) million down 12% year-over-year, and 11% quarter-over-quarter, reflecting the structurally lower cost base established during 2025 and Q1 2026. Capitalised technology development costs were EUR 1.6 (1.5) million. Total operating expenses of EUR 14.0 (16.6) million represent year-on-year savings of EUR 2.6 million. The Group has now realised the EUR 8–10 million annualised savings target communicated at the start of 2025 and expects further operational reductions to support additional savings. EBITDA before special items EBITDA before special items was EUR 8.9 (8.4) million with a margin of 39% (34%). Earnings developed despite a EUR 2.2 million revenue decline as total operating expenses were tightened by EUR 2.6 million as a direct result of the organisational measures completed during 2025 and Q1 2026. On a six-month basis, EBITDA before special items was EUR 19.3 (17.2) million, a margin of 41% (34%). The Group enters the second half with a materially lower cost base and a leaner operating model compared to previous periods. Sustaining profitability through periods of revenue volatility remains the priority, supported by the quality of the asset base and the scale of player activity generated during the tournament. EBITDA is equivalent to operating profit before depreciation, amortisation, and impairment. Special items Special items in the quarter amounted to EUR 0.8 (1.8) million , decreasing 54% year-over-year and 49% quarter- over-quarter. Special items primarily related to costs associated with regulatory and compliance, restructuring and transformation and strategic transactions. Other Depreciation, amortisation and impairment losses amounted to EUR 2.3 (5.5) million. No impairment losses were recognised in the second quarter. Amortisation of intangible assets has reduced significantly following the decision in Q2 2025 to reassess the useful life of domains as indefinite, after which they ceased to be amortised. Net finance costs, comprising net finance income and expenses together with unrealised foreign exchange movements on the bond, amounted to EUR 2.9 (2.4) million. Interest on the Company's bond was unchanged at 2.4 Financial review
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11 Back to content Gentoo Media | Q2 2026 Interim Report 2.4 | Financial review EUR 2.2 (2.2) million. The year-on-year increase is primarily attributable to a smaller unrealised foreign exchange gain on the bond of EUR 0.4 (0.9) million, arising from the weakening of the SEK against the EUR. Other financial expenses, net of that gain, were EUR 0.7 (0.2) million. Cash flow Cash flow from operations was EUR 6.4 (7.4) million with a continued strong cash conversion of 73% during Q2 2026, despite a decrease in revenue and accelerated settlement of supplier balances of EUR 2 million. Excluding these payments, the operating cash flow was EUR 8.4 million with a cash conversion of 95%. Operating cash flow was applied to EUR 1.0 million of shareholder loan repayments, EUR 1.0 million of deferred consideration from prior-year acquisitions, EUR 2.6 million of bond and shareholder loan interest, and EUR 0.4 million of lease payments. Cash and bank deposits were EUR 2.1 (5.9) million on 30 June 2026. Balance sheet Total assets amounted to EUR 153.7 (152.7 restated) million as of 30 June 2026. The largest asset on the balance sheet relates to intangible assets of EUR 92.3 (101.0 restated) million. Intangible assets mainly consist of goodwill generated through business combinations of EUR 42.3 million and other intangible assets of EUR 50.0 million. Trade and other receivables were EUR 18.9 (20.4 restated) million and cash EUR 2.1 (5.9) million. The outstanding bond balance was EUR 91.5 million at 30 June 2026, listed on Nasdaq Stockholm and Frankfurt Stock Exchange. As the bond matures end of 2026, it is presented within current borrowings. The Board and management are evaluating a range of refinancing alternatives, including a new bond and private debt structures. The market will be updated no later than 1 October 2026. The shareholder loans of EUR 18 million secured in Q1 2026 amortise at EUR 0.5 million per month, with EUR 17.0 million outstanding at 30 June 2026, expected to be reduced to EUR 16.0 million by the end of August 2026. All financial covenants have been complied with, and are expected to remain within thresholds until maturing date. Net interest-bearing debt was EUR 112.2 (122.8) million, down EUR 10.6 million year-on-year following repayment of deferred considerations, credit facility and shareholder loans. The leverage ratio was 2.58x (2.99x) on LTM EBITDA before special items of EUR 43.4 million. Due to the timing effects of Maltese tax regulations, the Group carries current and non-current tax liabilities of EUR 45.3 million and a deferred tax asset of EUR 34.3 million. The net tax position is a liability of EUR 11.0 million. In accordance with IAS 1, deferred tax assets and liabilities are presented as non-current irrespective of the expected timing of their realisation In accordance with IAS 1, deferred tax assets and liabilities are presented as non-current irrespective of the expected timing of their realisation. 2026 Outlook Concluding on first half revenue and results, Gentoo Media has revised its full-year 2026 guidance. Revenue in the first half of 2026 was EUR 46.9 million, estimated to be below the level required to reach the previous guidance range. Management has therefore reassessed the outlook for the remainder of 2026 Management’s expectations for the Group’s commercial development have been revised following softer-than- anticipated revenue performance in the first half of the year, together with current market conditions and trading levels observed since the end of the second quarter. Accordingly, Management has reassessed the outlook for the remainder of 2026 to reflect current trading and the expected development through the final months of the year. The revision principally reflects lower earnings from the FIFA World Cup, the continued impact of the portfolio simplification undertaken in 2025, and a slower-than- anticipated rollout of certain commercial initiatives. The revised outlook assumes an increasing revenue contribution from players acquired during the FIFA World Cup as these cohorts mature through the second half of the year. This is supported by the elevated levels of player intake and deposit volumes recorded during the second quarter. Historically, the second half of the year has been the stronger period for the Group, reflecting the seasonal pattern of sports and casino activity. The revised outlook assumes a return to this historical pattern, while incorporating the softer first-half performance and current trading levels. The Group now expects EBITDA of EUR 44–47 million for 2026, representing year-on-year growth of approximately 7% to 14% compared with EUR 41.3 million in 2025. The expected growth reflects the structurally lower cost base established through initiatives implemented during 2025 and the first half of 2026, providing operating leverage as revenue develops through the remainder of the year. EUR '000000 Previous 2026 guidance Revised 2026 guidance Revenue 100 - 115 97 - 100 EBITDA before special items 49 - 54 44 - 47 EBITDA before special items margin (%) 47% 45 - 47% Cash flow from operations 37 -41 32 - 36
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12 Back to content Gentoo Media | Q2 2026 Interim Report During Q2, Gentoo Media sharpened the operational priorities within Publishing and Paid Media. Resources were concentrated on core assets, commercial improvement and initiatives capable ofdelivering sustainable value across the portfolio. The quarter included further development of AskGamblers and Casinomeister, preparation of sports products for the 2026 FIFA World Cup, additional website migrations and the strengthening of AI-supported workflows. Concentrating investment on core assets The allocation of people and development capacity was reviewed during the quarter to ensure that investment remained centred on the brands, markets and products with the strongest commercial prospects. AskGamblers and Casinomeister were among the principal product priorities. Work focused on reinforcing their underlying products and creating a stronger foundation for future user-experience, content and monetisation improvements. This more selective approach reflects a shift towards depth rather than breadth, with fewer initiatives receiving greater operational focus and clearer ownership. Preparing the sports portfolio for the World Cup A programme of product improvements was delivered across several sports assets ahead of the 2026 FIFA World Cup. The work strengthened event coverage, user journeys and the commercial proposition of the selected products, positioning them to serve increased audience interest during the tournament. The initiative also provided an opportunity to develop capabilities, such as AI betting tips, that can be reused around other major sporting events and across the broader sports portfolio. Simplifying the Publishing technology base Several websites were transferred to Gentoo Media’s next-generation platform during Q2, continuing the transition away from fragmented legacy infrastructure. Bringing more of the portfolio onto a common technical foundation reduces maintenance requirements and makes it easier to deploy product, content and SEO improvements across multiple brands. It also allows development teams to spend less time supporting individual legacy systems and more time on commercially relevant improvements. Casinomeister was migrated after the quarter ended, marking a further important step in the platform programme. Introducing AI-supported content workflows Gentoo Media launched an internal AI assistant for its Publishing teams during the quarter. The tool supports content production and editing, shortening the time required for a range of routine editorial tasks. The new workflow combines automation with human editorial control and enables specialist resources to spend more time on research, analysis and higher-value content development. Further applications and improvements to the AI assistant are being assessed with the aim of increasing output capacity without a corresponding increase in operational complexity. Improving commercial effectiveness The Company advanced a number of initiatives during Q2 aimed at raising the operational standard of its commercial organisation. A dedicated sales operations function was established to support the commercial teams with structured deal preparation, consistent offer frameworks and improved partner-facing materials, allowing engagement with partners to be built on more relevant and better-evidenced propositions across all markets. Investment in the commercial technology stack continued, with additional tools introduced during the quarter and adoption of existing systems broadened across the teams. This has shortened deal evaluation cycles, improved the accuracy of performance tracking and created a more uniform basis on which commercial opportunities are assessed and prioritised. Alongside this, the Company reinforced its legal, contracting and receivables processes, tightening contractual standards, reducing counterparty exposure and improving the predictability of collections. Taken together, these measures are directed at safeguarding existing revenue streams and increasing the resilience of the Company's commercial base. Commercial optimisation and partner intelligence Work on partner optimisation advanced further in Q2, with the Company continuing to build out its analytical capability and apply more granular assessment of traffic composition, player conversion patterns and the long-term value contribution of individual partnerships. A central focus of the quarter was funnel performance, where improvements were recorded in the conversion of traffic into registrations and of registrations into first-time depositors across the principal product categories. 2.5 Operational review
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13 Back to content Gentoo Media | Q2 2026 Interim Report 2.5 | Operational review Monetisation initiatives were launched, to increase the commercial return generated from existing traffic, independent of acquisition growth. The Company also began a structured reassessment of commercial terms and revenue-share arrangements across its partner base during the quarter. The benefit of this work is expected to be reflected in margin quality in subsequent quarters rather than in the current period. Portfolio management remained active throughout Q2, with commercial exposure to weaker or inefficient partnerships reduced in favour of brands offering stronger performance and more attractive economics on the Company's premium placements. These actions are intended both to defend current revenue and to establish a firmer basis for revenue growth going forward. World Cup drives acquisition scale for Paid media Paid media entered Q2 with a clear focus on capturing the acquisition opportunity around the FIFA World Cup 2026 by scaling marketing investment across key markets while keeping cost per acquired player stable (CAC). Paid media delivered strong growth in acquisition volumes compared to Q1 2026, with FTDs increasing 46% quarter over quarter. This demonstrates the ability to scale acquisition materially while maintaining acquisition efficiency. Revenue for the quarter amounted to EUR 4.4 million, compared with EUR 4.8 million in Q1 2026. Operator demand for new players increased around the FIFA World Cup, accompanied by higher than expected bonuses and acquisition incentives. These incentives reduced revenue-share earnings and the initial revenue contribution from newly acquired players. Revenue-share earnings are generated over the player lifetime, providing potential for additional revenue contribution in subsequent periods. Operational execution during the quarter also benefited from the AI-driven technology and automation investments introduced in Q1. Generative AI-driven site creation, combined with real-time performance optimisation, moved into full operation during Q2, improving execution speed and performance across Paid Media's owned assets. These capabilities support the continued development of PPC and Social Media as scalable acquisition channels. Looking ahead, Paid Media expects to capitalise on the commercial foundationand operational capabilities built during H1. The focus remains on driving profitable and sustainable growth, with continued emphasis on monetizing existing acquisitionvolumes while maintaining disciplined investment in newgrowth opportunities.
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14 Back to content Gentoo Media | Q2 2026 Interim Report 15 4.1 Financial highlights 16 4.2 Consolidated statement of comprehensive income 18 4.3 Consolidated balance sheets 19 4.4 Consolidated statement of changes in equity (deficit) 20 4.5 Consolidated statement of cash flows 22 4.6 Notes 4.0 Financials Gentoo Media Inc.
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15 Back to content Gentoo Media | Q2 2026 Interim Report Financial highlights 4.1 EUR’000000 Q2-26 Q2-25 restated 6M 2026 6M 2025 restated 2025 Income statement Revenue 22.9 25.0 46.9 50.4 98.7 EBITDA before special items 8.9 8.4 19.3 17.2 41.3 Special items - 0.8 - 1.8 - 2.4 - 2.6 - 5.5 EBITDA 8.0 6.6 16.9 14.6 35.8 EBIT 5.8 1.2 9.5 4.3 16.3 Net financial income (expense) - 3.4 - 3.4 - 6.7 - 6.7 - 14.3 Profit/(Loss) for the period 2.7 - 0.5 2.9 - 3.4 - 2.6 EUR '0000000 30 Jun 2026 30 Jun 2025 restated 31 Dec 2025 Balance sheet Total non-current assets 132.8 126.4 132.9 Trade and other receivables 18.9 20.4 18.4 Cash and cash equivalents 2.1 5.9 3.3 Total assets 153.7 152.7 154.7 Equity - 17.0 - 21.2 - 19.9 Borrowings 108.5 113.8 111.8 EUR '0000000 Q2-26 Q2-25 restated 6M 2026 6M 2025 restated 2025 Cash flow Cash flow from operating activities 6.4 7.4 13.8 12.0 34.6 Cash flow from investing activities - 2.8 - 3.4 - 6.2 - 27.7 - 40.8 Cash flow from financing activities - 4.0 - 2.7 - 8.8 10.4 - 1.9 Cash flow for the period - 0.4 1.3 - 1.2 - 5.4 - 8.0
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16 Back to content Gentoo Media | Q2 2026 Interim Report Consolidated statement of comprehensive income 4.2 EUR’000 Q2-26 Q2-25 restated 6M 2026 6M 2025 restated 2025 Revenue 22,870 25,031 46,898 50,448 98,739 Employee costs -4,275 -6,047 -9,255 -11,986 -22,286 Marketing expenses -6,826 -8,433 -12,295 -15,256 -26,949 Other operating income 0 0 0 0 2,306 Other operating expenses -2,909 -2,126 -6,021 -5,986 -10,497 Operating profit before depreciation and amortisation (EBITDA) and special items 8,861 8,425 19,327 17,220 41,313 Special items -827 -1,778 -2,443 -2,621 -5,495 Operating profit before depreciation and amortisation (EBITDA) 8,034 6,647 16,885 14,599 35,818 Amortization, depreciation and impairment loss -2,266 -5,536 -7,438 -10,852 -19,554 Loss on sale of non-current assets 0 0 0 0 -234 Other income and expenses 0 62 5 563 317 Operating profit 5,768 1,173 9,452 4,310 16,347 Finance income/(costs), net -3,362 -3,358 -6,654 -6,713 -14,331 Unrealised exchange gain/(loss) on the bond 436 924 795 -860 -1,835 Profit before income taxes 2,842 -1,261 3,593 -3,263 181 Income tax -136 735 -669 -114 -2,760 Profit/(Loss) for the period 2,706 -526 2,924 -3,377 -2,579 Profit/ loss for the year attributable to Owners of Gentoo Media Inc. 2,705 - 976 2,920 - 3,827 - 2,584 Non-controlling interests 1 450 4 450 5 Basic and diluted earnings (Losses) per Share: Basic earnings per share 0.02 - 0.01 0.02 - 0.03 - 0.02 Diluted earnings per share 0.02 - 0.01 0.02 - 0.03 - 0.02
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17 Back to content Gentoo Media | Q2 2026 Interim Report Consolidated statement of comprehensive income 4.2 EUR’000 Q2-26 Q2-25 restated 6M 2026 6M 2025 restated 2025 Profit/ loss for the period 2,706 - 526 2,924 - 3,377 - 2,579 Items that may be reclassified to the income statement: Exchange differences on translation of foreign operations - 1 - 6 39 23 - 39 Other comprehensive income - 1 - 6 39 23 - 39 Total comprehensive income 2,705 - 532 2,963 - 3,354 - 2,618 Total comprehensive income is attributable to Owners of Gentoo Media Inc. 2,704 - 982 2,959 - 3,804 - 2,623 Non-controlling interests 1 450 4 450 5 Shares Basic shares 134,707,97 4 134,707,97 4 Options 7,880,416 7,880,416 Diluted shares 142,588,390 142,588,390
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18 Back to content Gentoo Media | Q2 2026 Interim Report Consolidated balance sheets 4.3 EUR'000 30 Jun 2026 30 Jun 2025 restated 31 Dec 2025 Equity Share capital 119 119 119 Share premium 141,316 141,292 141,316 Other reserves 115 293 115 Share option reserve 710 - 531 Currency translation reserve - 731 - 707 - 769 Accumulated deficit - 159,509 - 163,851 - 162,428 Total equity attributable to owners of Gentoo Media Inc. - 17,979 - 22,854 - 21,116 Non-controlling interests 1,015 1,690 1,245 Total equity - 16,964 - 21,164 - 19,871 Liabilities Non-current liabilities Borrowings 15,000 90,622 - Lease liabilities 3,114 1,623 3,777 Deferred consideration - 898 - Deferred income tax liabilities 2,148 2,369 2,149 Non-current income tax liabilities 4,300 3,279 4,300 Total non-current liabilities 24,562 98,791 10,226 Current liabilities Borrowings 93,529 23,223 111,798 Trade and other payables 11,157 13,087 12,224 Lease liabilities 998 882 1,161 Deferred consideration 1,654 11,284 4,251 Contingent consideration - 193 - Current income tax liabilities 38,806 26,373 34,883 Total current liabilities 146,143 75,042 164,317 Total liabilities 170,705 173,833 174,543 Total equity and liabilities 153,741 152,669 154,672 EUR’000 30 Jun 2026 30 Jun 2025 restated 31 Dec 2025 Assets Non-current assets Goodwill 42,251 44,429 44,429 Other intangible assets 50,028 56,593 51,412 Property, plant and equipment 1,968 1,631 2,063 Other non-current assets 522 - 522 Right-of-use assets 3,716 2,166 4,690 Deferred income tax assets 34,291 21,540 29,810 Total non-current assets 132,776 126,359 132,926 Current assets Trade and other receivables 18,892 20,384 18,448 Cash and cash equivalents 2,073 5,926 3,298 Total current assets 20,965 26,310 21,746 Total assets 153,741 152,669 154,672
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19 Back to content Gentoo Media | Q2 2026 Interim Report Consolidated statement of cash flows 4.4 EUR’000 Q2-26 Q2-25 restated 6M 2026 6M 2025 restated 2025 Cash flow from operating activities Operating profit 5,768 1,173 9,452 4,310 16,347 Changes in working capital and non-cash items 1,522 6,503 5,425 8,039 19,444 Taxes paid - 861 - 320 - 1,031 - 350 - 1,175 Net cash flows from operating activities 6,429 7,356 13,846 11,999 34,616 Cash flow from investing activities Purchases of intangible assets - 1,559 - 1,510 - 2,998 - 3,014 - 6,444 Purchases of property, plant and equipment - 217 - 458 - 233 - 805 - 1,443 Acquisition of subsidiaries/ deferred considerations - 1,011 - 1,431 - 3,007 - 23,922 - 32,877 Net cash flows from investing activities - 2,787 - 3,399 - 6,238 - 27,741 - 40,764 Cash flow from financing activities Loan repayment - 1,000 - 2,000 - 21,000 - 2,000 - 5,000 Proceeds from issuance of shares - 25 25 25 Net proceeds from bond refinancing and other borrowings - 2,000 18,000 18,000 18,000 Repayment of lease liabilities, principal part - 395 - 340 - 786 - 666 - 1,298 Payment to platform business disposed of - - - - - 3,000 Interests paid - 2,635 - 2,365 - 5,047 - 4,996 - 10,586 Net cash flows from financing activities - 4,030 - 2,680 - 8,833 10,363 - 1,859 Net movement in cash and cash equivalents - 388 1,277 - 1,225 - 5,379 - 8,007 Cash and cash equivalents at beginning of year 2,461 4,649 3,298 11,305 11,305 Cash and cash equivalents at end of period 2,073 5,926 2,073 5,926 3,298 Cash and cash equivalents at end of the period in the statement of financial positions 2,073 5,926 2,073 5,926 3,298
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20 Back to content Gentoo Media | Q2 2026 Interim Report Consolidated statement of changes in equity (deficit), for the period ended 30 Jun 2026 4.5 EUR’000 Share capital Share premium Other reserves* Share option reserve Currency translation reserve Accumulated deficit Total attributable to owners Non-controlling interest Total equity 2026 Equity at 1 January 2026 119 141,316 115 531 - 769 - 162,428 - 21,116 1,245 - 19,871 Profit for the year - - - - - 2,920 2,920 4 2,924 Other comprehensive income: Currency translation differences - - - - 38 - 38 - 38 Total comprehensive income for the year - - - - 38 2,920 2,958 4 2,962 Transactions with owners: - Share based payments - - - 179 - 179 - 179 Excersise share options - - - - - - - - Transactions with NCI - - - - - - - 234 - 234 Other movements - - - - - - - Total transactions with owners - - - 179 - - 179 - 234 - 55 Equity at 30 June 2026 119 141,316 115 710 - 731 - 159,508 - 17,979 1,015 - 16,964
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21 Back to content Gentoo Media | Q2 2026 Interim Report Consolidated statement of changes in equity (deficit), for the period ended 30 Jun 2025 4.5 EUR’000 Share capital Share premium Other reserves* Share option reserve Currency translation reserve Accumulated deficit Total attributable to owners Non-controlling interest Total equity 2025 Equity at 1 January 2025 119 141,292 293 - - 730 - 160,038 - 19,064 1,240 - 17,824 Loss for the year - - - - - - 3,827 - 3,827 450 - 3,377 Other comprehensive income: Currency translation differences - - - - 23 - 23 - 23 Total comprehensive income for the year - - - - 23 - 3,827 - 3,804 450 - 3,354 Transactions with owners: - Share based payments - - - - - - - - - Excersise share options - - - - - - - - - Transactions with NCI - - - - - - - - Other movements - - - - - 14 14 - 14 Total transactions with owners - - - - - 14 14 - 14 Equity at 30 June 2025 119 141,292 293 - - 707 - 163,851 - 22,854 1,690 - 21,164
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22 Back to content Gentoo Media | Q2 2026 Interim Report Note 1 Material accounting policy information This unaudited interim report (condensed consolidated interim financial statements) for the period 1 January – 30 June 2026 has been prepared in accordance with IAS 34 "Interim financial reporting" as adopted by the European Union. The interim report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the consolidated financial statements for the year ended 31 December 2025 of Gentoo Media Inc. The accounting policies applied in preparing this interim financial report are consistent with those of the previous financial year, except for the changes and the adoption of new and amended standards described below. The consolidated financial statements for 2025 of the Group provide a full description of the material accounting policies. Restatement of H1 2025 related to previously identified material errors As described in note 1.6 to the annual report 2025, the Group identified in connection with the preparation of the Q3 2025 interim report material errors related to previous periods. The identified material errors also affected the reported figures for the second quarter and first half of 2025, which have accordingly been restated in this interim report. For H1 2025, the previously identified corrections increased revenue by EUR 1.2 million and decreased other operating expenses by EUR 0.3 million, with a corresponding increase in EBITDA of EUR 1.5 million. The EBITDA effects for the Q2 2025 was EUR 0.9 million. In addition, amortisations relating to domains of EUR 1.4 million for H1 2025 had not been recognised. Income taxes have been restated by EUR 0.6 million relating to Brazilian tax previously disclosed as income taxes and now reclassified to be presented as a reduction to revenue. Furthermore, other income has increased by EUR 0.5 million, while finance costs decreased by EUR 0.1. As a result, the loss for the period for H1 2025 has been restated to EUR 3.4 million, compared with the previously reported loss of EUR 4.0 million. The corrections had no material tax effect, and all adjustments were attributable to the owners of Gentoo Media Inc. Further details about the corrected errors were provided in note 1.6 to the annual report for 2025 and in note 1 to the interim report for Q3 2025 to which we refer. Change in presentation of income tax liabilities With effect from this interim report, the income tax liability arising from the US assessment previously presented as a non-current income tax liability has been presented within current income tax liabilities, reflecting the expected timing of settlement. The comparative figures at 31 December 2025 have been represented accordingly, increasing current income tax liabilities by EUR 4.3 million and reducing total non-current liabilities by the same amount. There is no effect on total liabilities, total equity or the result for any period presented. Changes in accounting policies The accounting policies applied are consistent with those applied and described in the 2025 annual report. New and amended accounting standards As of 30 June 2026, the Group has implemented all amendments to the IFRS Accounting Standards effective as of 1 January 2026 as adopted by the EU. None of the amendments implemented have had any material impact on the Group's financial state- ments, nor are they expected to have so in the fore- seeable future. The new standards that are not yet effective are not expected to have any material impact on Gentoo Media. However, the Group is currently evaluating the impact of IFRS 18 Presentation and Disclosure in Financial Statements, which will be effective from 2027.
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23 Back to content Gentoo Media | Q2 2026 Interim Report Note 2 Management judgements and estimates In preparing the interim financial statements, management makes various accounting judgements and estimates that affect the reported amounts and disclosures in the financial statements and in the notes to the statements. These are based on professional experience, historical data and other factors available to management. By nature, a degree of uncertainty is involved when carrying out these judgements and estimates, hence actual results may deviate from the assessments made at the reporting date. Judgements and estimates are continuously evaluated, and the effects of any changes are recognised in the relevant period. Primary financial statement items for which significant accounting estimates and judgements are applied are listed in note 1.4 Critical accounting estimates and judgements of the 2025 Annual Report, to which we refer. Areas affected by key accounting estimates and judgements are unchanged from the 2025 annual report, with no significant business acquisition made during the period. In addition to those areas, management has applied significant judgement in assessing the appropriateness of the going concern basis of preparation in the context of the bond maturing in December 2026, as set out in Note 5.
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24 Back to content Gentoo Media | Q2 2026 Interim Report Segment information Note 3 EUR '000 Publishing Paid Group 6M 2026 6M 2025 restated 6M 2026 6M 2025 restated 6M 2026 6M 2025 restated 2025 Revenue per category Revenue share agreements 21,307 23,361 6,816 7,258 28,124 30,619 60,953 Cost per acquisition (CPA) 4,185 4,7 49 1,820 1,757 6,005 6,506 13,335 Listing fees / other revenue 12,208 12,537 562 786 12,769 13,323 24,451 Total revenue 37,700 40,647 9,198 9,801 46,898 50,448 98,739 Other operating income - - - - 2,306 Cost - 16,639 - 21,991 - 10,931 - 11,237 - 27,570 - 33,228 - 59,732 Operating profit before depreciation and am- ortisation (EBITDA) and special items 21,060 18,656 - 1,733 - 1,436 19,327 17,220 41,313 EBITDA margin before special items 56% 46% -19% -15% 41% 34% 42% Special items, net - 1,907 - 1,837 - 536 - 784 - 2,443 - 2,621 - 5,495 Operating profit before depreciation and am- ortisation (EBITDA) 19,153 16,819 - 2,268 - 2,220 16,885 14,599 35,818 EBITDA margin 51% 41% -25% -23% 36% 29% 36% EUR '000 6M 2026 Group 6M 2025 restated 2025 Operating profit before depreciation and amortisation (EBITDA) 16,885 14,599 35,818 Amortization, depreciation and impairment loss - 7,438 - 10,852 - 19,554 Loss on sale of non-current assets - - - 234 Other income and expenses 5 563 317 Operating profit (EBIT) 9,452 4,310 16,347 Finance income/(costs) - 6,654 - 6,713 - 14,331 Unrealized exchange gain/(loss) on the bond 795 - 860 - 1,835 Profit/ loss before income taxes 3,592 - 3,263 181
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25 Back to content Gentoo Media | Q2 2026 Interim Report Note 4 Intangible assets The Group performs impairment tests on intangible assets, including goodwill, domains and technology platform, annually and whenever there is an indication that intangibles may be impaired. The annual impairment test was performed as per 31 December 2025 based on financial forecasts approved by management covering the following financial year. In the first quarter of 2026, the closure of the Norwich, England division resulted in a goodwill impairment of EUR 2.2 million and an impairment of other intangible assets of EUR 0.3 million. No further impairment indicators were identified in the second quarter, and no additional impairment losses have been recognised in the period from 1 April to 30 June 2026. Additions in the six-month period of EUR 3.0 million relate entirely to the technology platform and comprise capitalised development costs. Following a review of asset classification, movements previously recorded against domains have been reclassified to the technology platform. Domains continue not to be amortised following the determination in Q2 2025 that they have an indefinite useful life. EUR`000 Goodwill Trademarks Domains Affiliate contracts & database Technology platform Total Cost Balance at 1 January 2026 44,487 679 90,365 22,998 30,870 189,399 Additions - - - - 2,998 2,998 Disposals - - - - (27) - 27 Reclass to other assets - - - - - - 30 June 2026 44,487 679 90,365 22,998 33,841 192,370 Amortisation and impairment Balance at 1 January 2026 - 58 - - 51,646 - 18,714 - 23,140 - 93,558 Amortisation for the period - 12 - - 1,367 - 2,723 - 4,079 Impairment for the period - 2,178 - - - 276 - - 2,454 Reclass to other assets - - - - - - 30 June 2026 - 2,236 12 - 51,646 - 20,357 - 25,863 - 100,091 Balance at 30 June 2026 42,251 691 38,719 2,641 7,978 92,279
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26 Back to content Gentoo Media | Q2 2026 Interim Report Note 5 Borrowings EUR'000 30 Jun 2026 30 Jun 2025 restated 31 Dec 2025 Non-current borrowings Bonds 90,622 Shareholder loan agreement 15,000 - - Current borrowings Bonds 91,47 4 91,943 Credit facility - 23,223 19,855 Shareholder loan agreement 2,055 - - Total borrowings 108,529 113,845 111,798 On 30 June 2026 the outstanding bonds have a carrying amount of EUR 91.5 million. The bonds are listed on Nasdaq Stockholm and the Frankfurt Stock Exchange and mature in December 2026 and are accordingly presented in full as a current liability. All related financial covenants have been complied with and are expected to remain within thresholds until maturity. The credit facility was repaid in full during the first quarter of 2026 and the Group is no longer subject to the related requirements. New facilities were established in its place during March 2026 with the following conditions: • A EUR 16 million facility maturing 31 December 2027, bearing interest at EURIBOR plus a margin of 7.25%, ranking pari passu with the Company's existing bonds and on covenant terms equivalent to those of the bonds. The facility amortises by EUR 0.5 million per month. EUR 1.0 million was repaid during the Q2 2026, leaving EUR 15.0 million outstanding at the reporting date. By agreement with the lenders, the instalment scheduled was deferred by one month, and the facility is expected to reduce to EUR 14.0 million by the end of August 2026. • A EUR 2 million unsecured facility maturing 30 April 2027, bearing interest at EURIBOR plus a margin of 10.25%, corresponding to the existing bond terms plus 3% with no covenant requirements.During the six months to 30 June 2026 the Group repaid EUR 21.0 million of borrowings, comprising the EUR 20.0 million credit facility drawdown and EUR 1.0 million of scheduled shareholder loan repayments.
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27 Back to content Gentoo Media | Q2 2026 Interim Report Note 6 Going concern, liquidity and refinancing The interim financial statements have been prepared on a going concern basis. At 30 June 2026 the Group had cash and cash equivalents of EUR 2.1 million and total borrowings of EUR 108.5 million, of which the senior secured bond of EUR 91.5 million matures in December 2026 and is presented as a current liability. Current liabilities exceed current assets by EUR 127.4 million, principally as a result of the bond classification and current income tax liabilities of EUR 38.8 million arising from the timing effects of Maltese tax regulations, against which the Group holds a deferred income tax asset of EUR 34.3 million. The Group generated net cash from operating activities of EUR 13.8 million in the first half of 2026 and EBITDA before special items of EUR 19.3 million, and all financial covenants under the bond and the shareholder facilities have been complied with throughout the period. A refinancing process for the bond was initiated in January 2026. Following a review of available terms, management concluded that market conditions at that time did not present an attractive refinancing opportunity. The process remains ongoing, and management is actively evaluating revised bond structures and alternative financing arrangements, including further support from the Group's largest shareholders, who provided EUR 18 million of facilities during the first quarter of 2026. Management has concluded that the going concern basis of preparation remains appropriate based on the Group's oper- ating cash generation, the continued support indicated by its principal shareholders and the range of financing alternatives under evaluation. The financial statements do not include any adjustments that would result should the Group be unable to continue as a going concern. Note 7 Subsequent events The Board and management are evaluating a range of refinancing alternatives, including a new bond and private debt structures. The objective is to secure an appropriate long-term solution with sufficient flexibility, including the ability to distribute cash, while maintaining disciplined cost of financing. No preferred structure has yet been selected. The market will be updated no later than 1 October 2026 Financial calendar Q3 2026 Interim Report 25 November 2026 Q4 2026 Interim Report 26 February 2027 Annual Report 2026 29 April 2027 Q1 2027 Interim Report 21 May 2027
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28 Back to content Gentoo Media | Q2 2026 Interim Report Special items Note 8 Regulatory and compliance Regulatory and compliance related special items for the first half of 2026 of EUR 0.1 million include costs associated with legal advisory, regulatory reviews and compliance enhancements. These expenses arise from specific reg- ulatory requirements or one-off compliance matters and are not considered part of the Group's normal recurring cost base. Restructuring and transformation Restructuring and transformation related specials costs for the first half of 2026 of EUR 2.0 million relate to initiatives under- taken to improve operational efficiency, organisational structure and long-term profitability, including consultancy fees, re- dundancy costs and other transformation-related expenditure. Such costs are treated as special items due to their non-re- curring nature and their linkage to discrete transformation programmes rather than ongoing business activities. Strategic transactions Special items related to strategic transactions in the first half of 2026 of EUR 0.3 million, primarily comprise professional fees and advisory costs incurred in connection with corporate initiatives, including potential acquisitions, disposals, refinancing activities and broader stra- tegic reviews. These costs are non-recurring in nature and are excluded from underlying performance to provide a clearer view of the Group's ongoing operations. EUR`000 Q2-26 Q2-25 restated 6M 2026 6M 2025 restated 2025 Special items, income Earnout reversal - - - - - 204 Special items, expenses Split from Platform and Sportsbook - 536 - 1,228 3,391 Streamlining of operations - 1,242 - 1,393 2,308 Regulatory & Compliance 19 - 101 - - Restructuring & Transformation 708 - 2,017 - - Strategic Transactions 100 - 325 - - Special items 827 1,778 2,443 2,621 5,495 Impact of special items on operating profit If special items had been recognised in operating profit before special items, they would have been included in the follow- ing line items: EUR`000 Q2-26 Q2-25 restated 6M 2026 6M 2025 restated 2025 Other income - - - - - 204 Other operating expenses 649 536 1,291 1,228 3,391 Employee costs 178 1,242 1,151 1,393 2,308 Total special items 827 1,778 2,443 2,621 5,495 Share-based payment plans Note 9 During the first half of 2026 the company did not grant any new stock options, and no options were exercised under the existing programs. A share-based payment charge of EUR 0.2 million was recognised in the first half year, taking the share option reserve to EUR 0.7 million on 30 June 2026. During the second quarter, management revised its estimate of the number of options expected to vest, having concluded that certain holders will not satisfy the applicable conditions. In accordance with IFRS 2, the cumulative charge previously recognised in respect of those options has been reversed, resulting in a credit in the second quarter. The revision is a change in accounting estimate and has been recognised prospectively, thus comparative figures have not been restated.
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29 Back to content Gentoo Media | Q2 2026 Interim Report Glossary AI: Artificial Intelligence Cash conversion: Cash from operations divided by EBITDA before special items CF: Credit facility EBIT: Operating profit EBIT margin: EBIT in percent of Normalised revenues EBITDA before special items: Operating profit less depreciation, amortisation, impairments and special items EBITDA: Operating profit less depreciation, amortisation and impairments EBITDA before special items margin: EBITDA before special items in percent of revenues EBITDA margin: EBITDA in percent of revenues FTD: First Time Depositor - A first time depositor is a person who places wagers or deposits an amount of money for the very first time Gross profit: Operating revenue less cost of sales Gross margin: Gross profit in percent of revenues Interest bearing debt: Other long-term debt and short-term borrowings LTM: Last twelve months NDC: New depositing customer NIBD: Net interest bearing debt Organic growth: Growth including growth from acquired companies from the date of acquisition measured against the historical revenue SEO: Search engine optimisation VOD: Value of deposits - The value of the deposits deposited by our player base
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30 Gentoo Media | Q2 2026 Interim Report Back to content Financials Gentoo Media Plc. 4.0 31 4.1 Consolidated statement of comprehensive income 33 4.2 Consolidated balance sheets 34 4.3 Consolidated statement of cash flows
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31 Back to content Gentoo Media | Q2 2026 Interim Report 5.1 Consolidated statement of comprehensive income EUR '000 Q2-26 Q2-25 restated 6M 2026 6M 2025 restated 2025 Revenue 22,870 25,031 46,898 50,448 98,739 Employee costs - 4,264 - 5,962 - 9,050 - 11,785 - 21,898 Marketing expenses - 6,826 - 8,433 - 12,295 - 15,256 - 26,949 Other operating income - - - - 2,306 Other operating expenses - 2,663 - 1,796 - 5,479 - 5,311 - 9,037 Operating profit before depreciation and amortisation (EBITDA) and special items 9,117 8,840 20,074 18,096 43,161 Special items - 739 - 1,778 - 1,919 - 2,621 - 5,275 Operating profit before depreciation and amortisation (EBITDA) 8,378 7,062 18,155 15,475 37,886 Amortisation, depreciation and impairment losses - 2,266 - 5,536 - 7,438 - 10,852 - 19,554 Loss on sale of non-current assets - - - - - 234 Other income and expenses - 62 5 563 317 Operating profit (EBIT) 6,112 1,588 10,722 5,186 18,415 Finance costs, net - 3,359 - 3,362 - 6,645 - 6,696 - 13,938 Unrealised exchange loss on the bond 436 924 795 - 860 - 1,835 Profit before income taxes 3,188 - 850 4,872 - 2,370 2,642 Income tax - 136 727 - 640 - 98 - 1,698 Profit/ loss for the period 3,052 - 123 4,232 - 2,468 944 Profit/ loss for the year attributable to Owners of Gentoo Media p.l.c. 3,051 - 573 4,228 - 2,918 939 Non-controlling interests 1 450 4 450 5
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32 Back to content Gentoo Media | Q2 2026 Interim Report 5.1 EUR '000 Q2-26 Q2-25 restated 6M 2026 6M 2025 restated 2025 Other Comprehensive Income/(Loss) Profit/ loss for the period 3,052 - 123 4,232 - 2,468 944 Items that may be reclassified to the income statement: Exchange differences on translation of foreign operations - 1 - 6 39 23 - 39 Other comprehensive income - 1 - 6 39 23 - 39 Total comprehensive income 3,051 - 129 4,270 - 2,445 905 Total comprehensive income is attributable to Owners of Gentoo Media p.l.c. 3,050 - 579 4,266 - 2,895 900 Non-controlling interests 1 450 4 450 5 Consolidated statement of comprehensive income
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33 Back to content Gentoo Media | Q2 2026 Interim Report 5.2 Consolidated balance sheets EUR’000 30 Jun 2026 30 Jun 2025 restated 31 Dec 2025 Equity Share capital 14,638 14,639 14,638 Share premium 2,304 2,304 2,304 Capital reserves 96,535 84,351 96,535 Other reserves - 956 - 732 - 956 Accumulated deficit - 125,995 - 134,668 - 130,260 Total equity attributable to owners of Gentoo Media p.l.c. - 13,474 - 34,106 - 17,739 Non-controlling interests 1,015 1,690 1,245 Total equity - 12,459 - 32,416 - 16,494 Liabilities Non-current liabilities Borrowings 15,000 90,622 - Lease liabilities 3,114 1,623 3,777 Deferred consideration 898 - Deferred income tax liabilities 2,148 2,369 2,149 Total non-current liabilities 20,262 95,512 5,926 Current liabilities Borrowings 93,529 23,223 111,798 Trade and other payables 10,738 12,835 12,083 Lease liabilities 998 882 1,161 Deferred consideration 1,654 11,284 4,251 Contingent consideration - 193 - Current income tax liabilities 38,435 28,928 34,512 Total current liabilities 145,353 77,345 163,805 Total liabilities 165,615 172,857 169,731 Total equity and liabilities 153,156 140,441 153,237 EUR’000 30 Jun 2026 30 Jun 2025 restated 31 Dec 2025 Assets Non-current assets Goodwill 31,803 33,981 33,981 Other intangible assets 50,028 56,593 51,412 Property, plant and equipment 1,968 1,631 2,063 Other non-current assets 522 - 522 Right-of-use assets 3,716 2,166 4,690 Deferred income tax assets 34,291 23,730 29,810 Total non-current assets 122,328 118,101 122,478 Current assets Trade and other receivables 28,801 16,488 27,480 Cash and cash equivalents 2,027 5,852 3,279 Total current assets 30,828 22,340 30,759 Total assets 153,156 140,441 153,237
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34 Back to content Gentoo Media | Q2 2026 Interim Report Consolidated statement of cash flows 5.3 EUR '000 Q2-26 Q2-25 restated 6M 2026 6M 2025 restated 2025 Cash flow from operating activities Operating profit 6,111 1,588 10,722 5,186 18,415 Changes in working capital and non-cash items 1,117 6,023 4,100 6,833 17,463 Taxes paid - 833 - 20 - 1,003 - 50 - 1,175 Net cash flows from operating activities 6,395 7,591 13,819 11,969 34,703 Cash flow from investing activities Purchases of intangible assets - 1,559 - 1,510 - 2,998 - 3,014 - 6,444 Purchases of property, plant and equipment - 217 - 458 - 233 - 805 - 1,445 Acquisition of subsidiaries, net of cash acquired - 1,011 - 1,431 - 3,007 - 23,922 - 32,876 Net cash flows from investing activities - 2,787 - 3,399 - 6,238 - 27,741 - 40,765 Cash flow from financing activities Loan repayment - 1,000 - 2,000 - 21,000 - 2,000 - 5,158 Proceeds from issuance of shares - - - Proceeds from borrowings 2,000 18,000 18,000 18,000 Repayment of lease liabilities, principal part - 395 - 340 - 786 - 666 - 1,298 Interests paid - 2,635 - 2,366 - 5,047 - 4,996 - 10,586 Transfers to Group's parent - - - - - 2,903 Net cash flows from financing activities - 4,030 - 2,706 - 8,833 10,338 - 1,945 Net movement in cash and cash equivalents - 422 1,486 - 1,252 - 5,434 - 8,007 Cash and cash equivalents at beginning of year 2,449 4,366 3,279 11,286 11,286 Cash and cash equivalents at end of period 2,027 5,852 2,027 5,852 3,279 Cash and cash equivalents at end of the period in the statement of financial positions 2,027 5,852 2,027 5,852 3,279
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35 Back to content Gentoo Media | Q2 2026 Interim Report Company information Quad Central (Headquarters) Q4 Level 14, Triq L-Esportatur, Birkirkara CBD 1040 Malta Valencia @46015 València Av. de les Corts Valencianes, 58, 5th floor Pobles de l’Oest Spain Copenhagen @Rebel Penguin Nannasgade 28 2200 Copenhagen N Denmark Belgrade @Airport City, Rose Building Omladinskih Brigada 90V 11070 New Belgrade Serbia ir@gentoomedia.com