Slides
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1 Welcome to our Q3 2026 presentation PLEASE NOTE: You are in LISTEN & VIEW ONLY mode during this Zoom Webinar. Your microphone and camera are disabled. Q&A: During the call you will be able to post questions in the Q&A box in the bottom of the page. You can also raise your hand to ask questions verbally after the call.
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Q3 2026 November 4, 2026 Earnings Call Presentation Vlad Suglobov, CEO Stefan Wikstrand, CFO
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G5 Store - % of G5’s Net Revenue (USD) Q3 2026 Results *Active games: Own and actively managed • Revenue USD 19.3 M, -19.7% Y/Y | -4.0% Q/Q Licensed games: +3.3% Y/Y | -1.2% Q/Q • Highlight: Promising performance of 3rd party publishing games on G5 Store • Hidden City declined by 11.0% Y/Y | -5.9% Q/Q Own games: -28.3% Y/Y | -5.5% Q/Q • Sherlock -22.7% decline Y/Y | -2.9% Q/Q, Jewels continue to slide down -39.1% Y/Y | -11.9% Q/Q • MAGRPPU USD 75.2 a 6% Y/Y increase (70.8), reflecting the high quality and deep engagement of our loyal player base • UA 18% of gross revenue (21). UA investment decreased to USD 3.4 M (−31% Y/Y). • Record gross margin 74.1% (71.2) driven by the G5 Store, advertising revenue as well as direct checkout on mobile • EBIT USD 1.9 M (1.3), margin 9.8% (5.5). • Cash Position and liquid short-term investments amounted to USD 24.3 M (26.3). 0% 5% 10% 15% 20% 25% 30% 35% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 2023 2024 2025 2026
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• G5 Store accounts for 28.4% of total gross revenue (19.7) and is now our biggest distribution channel, ahead of Apple App Store and Google Play. • Growth: in Gross terms was +15.7% Y/Y, +6.8% Q/Q • Direct processing of mobile player payments continued to scale, reaching 21% of mobile gross revenue (17% in the second quarter) — USD 1.8 M processed directly, up from USD 1.6 M in the second quarter — further reducing platform fee dependency. • G5 Store as a Distribution Channel The distribution model was successfully introduced, with 19 external games signed as of Q3/2026. Third -party revenue increased by 41% sequentially, and early data indicates F2P titles can reach up to 15% of mobile revenues on the G5 Store. G5 Store Launched in 2020 Processing fees in G5 Store are single digits compared to the 12-30% third party application store fees Web shop store.g5.com Launched 2024 Direct payment processing from players on mobile devices Our D2C and #1 distribution channel G5 Store 15.7% Y/Y growth G5 Store – Quarterly Gross Revenue (USD) $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 2022 2023 2024 2025 2026
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Record gross margin Own/Licensed revenue| Own games share (%) Gross Margin (%) Active: Own and actively managed Licensed: Games licensed from third -party developers, with G5 as publisher Harvest: Owned games not actively supported, run by a central team Highlights • Own games 65% of net revenue (73), as own games declined faster than licensed titles and third-party games on G5 Store added a growing share • Active own games: 56% (63) of net revenue • Record gross margin 74.1% (71.2), primarily fueled by the accelerating shift toward direct checkout, the G5 Store and advertising • Monetization: MAGRPPU USD 75.2 (70.8), a 6% increase Y/Y demonstrating the growing value of our core player base 40% 45% 50% 55% 60% 65% 70% 75% 0 5 10 15 20 25 30 35 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2024 2025 2026 Active Licensed Harvest Own games % 40% 45% 50% 55% 60% 65% 70% 75% 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
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EBIT margin UA to Gross Revenue (%) EBIT adj for write -downs and fx (MUSD) Operating Profit (EBIT) USD 1.9 M (1.3), EBIT margin 9.8% (5.5) • EBIT was negatively impacted by severance payments of USD 0.8 M (0.0), positively impacted by a one -off release of social security fees of USD 0.3 M (0.0) and by fx revaluations of USD 0.3 M ( -0.0), reported as other operating income and expense. • Adjusting for fx and one-off items, EBIT would have been USD 2.0 M (1.4), corresponding to an EBIT margin of 10.6% (5.7%). • UA decreased to 18% of revenue (21%), USD 3.4 M (5.0) • Net capitalization impact on earnings was negative USD 0.9 M (+0.1) as capitalization decreased with smaller game teams and Jewels and The Secret Society moving to Harvest mode Net capitalization (MUSD) -5% 0% 5% 10% 15% 20% -1 0 1 2 3 4 5 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2024 2025 2026 EBIT adj WD & fx EBIT margin adj WD and fx 18% 19% 19% 19% 17% 17% 19% 17% 15% 18% 21% 23% 19% 19% 18% 5% 7% 9% 11% 13% 15% 17% 19% 21% 23% 25% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2024 2025 2026 -0.8 -1.2 -1.2 -1.1 -1.1 -0.8 -0.5 -0.5 -0.3 -0.04 0.1 0.1 0.3 0.1 -0.9 -1.4 -1.2 -1.0 -0.8 -0.6 -0.4 -0.2 0.0 0.2 0.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2024 2025 2026
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Cash Position incl. liquid short -term investments (MUSD) Strong cash position Financial resilience : Strong cash position of USD 24.3 M (26.3) including liquid short-term investments, of which cash and cash equivalents USD 8.9 M, providing flexibility to fund development and marketing without external financing. During Q3/2026 the company reallocated USD 15.2 million from cash and cash equivalents to short -term interest-bearing funds to enhance returns on excess liquidity. Cash Flow: Cash flow before financing was USD -15.1 M (2.0). Key movements: • USD 0.3 M (0.9) deployed for share repurchases • Capitalization of intangible assets: USD 1.6 M (2.4) • Operating cash flow: USD 0.7 M (4.5), impacted negatively by working capital movements of USD -2.5 M (-0.2) Capitalized game development (MUSD) -1.4 -1.2 -1.0 -0.8 -0.6 -0.4 -0.2 0.0 0.2 0.4 0 5 10 15 20 25 30 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2024 2025 2026 Capitalization Net capitalization 0 5 10 15 20 25 30 35 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2024 2025 2026 Cash Short-term investments
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Outlook 2026 • Rightsizing the team Workforce optimization is substantially complete. The redundancies have created annualized run -rate savings of around USD 14 M, and the team is expected to stabilize at around 450 by the end of the year. • Margin expansion Continued growth of the G5 Store, higher adoption of direct payment processing, and increasing advertising monetization are expected to further support gross margin improvement. • Portfolio performance Focus is on stabilizing and optimizing the profitability of the core titles, Sherlock and Hidden City, through fine -tuning the games and right -sizing their teams, while Jewels and The Secret Society have moved to Harvest Mode, to maximize long -term profitability. • New promising games Our new game continues in soft launch with the strongest short - and medium -term metrics we have seen; further iterations over the coming quarters will focus on its long-term metrics. • G5 Store ecosystem Third-party distribution grew 41% sequentially; interest from developers is increasing and the pace of new game deals and releases is gradually picking up. • Maintain strong financial discipline , cash flow generation and zero debt
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Contact Stockholm Headquarters G5 Entertainment AB Nybrogatan 6 114 34 Stockholm Sweden Email: investor@g5.com www.corporate.g5.com
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