Interim report
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Q4 2025/26 Sep–Aug 2025/26 INTERIM and year end report MAG INTERACTIVE AB (PUBL) MAG INTERACTIVE AB (publ) MAG Interactive is a leading mobile game developer focused on casual social games. With passionate, creative teams and a data-driven business model, MAG delivers world-class gaming experiences to millions of players worldwide. MAG specializes in word games and trivia, with a portfolio of titles including Quizduel, Wordzee, Crozzle, Ruzzle, WordBrain, Word Domination and Wordbubbles that have been downloaded over 350 million times. MAG has studios in Stockholm and Brighton and was listed in 2017 on the Nasdaq First North Premier Growth Market with the ticker MAGI. for more information visit www.maginteractive.com. About Sep–Aug 2025/26
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2025/26 Summary of the period Jun 2026 until Aug 2026 • The Group's net sales for the quarter were 63,583 KSEK (76,817 KSEK), a decrease of 17% • EBITDA for the quarter was 18,737 KSEK (5,054 KSEK), an increase of 13,683 KSEK • The Group's game contribution for the quarter was 42,050 KSEK (31,031 KSEK), an increase of 36% • Average revenue per daily active user (ARPDAU) for the quarter was 9.1 US cents (9.5 US cents), a decrease of 5% • Earnings per share during the quarter were 0.10 SEK/share (-0.31 SEK/share) • Adjusted earnings per share during the quarter were 0.10 SEK/share (-0.31 SEK/share) • The cost of user acquisition for the quarter was 12,973 KSEK (34,354 KSEK) Summary of the period Sep 2025 until Aug 2026 • The Group's Net sales for the period were 263,903 KSEK (275,816 KSEK), a decrease of 4% • EBITDA for the period was 62,669 KSEK (49,786 KSEK), an increase of 12,883 KSEK • The Group's game contribution for the period was 163,790 KSEK (163,118 KSEK), an increase of 0.4% • Average revenue per daily active user (ARPDAU) for the period was 9.0 US cents (7.5 US cents), an increase of 21% • Earnings per share during the period were 0.04 SEK/share (-0.36 SEK/share) • Adjusted earnings per share during the period were -0.02 SEK/share (-0.21 SEK/share) • The cost of user acquisition for the period was 64,411 KSEK (72,220 KSEK) 2 Significant events during and after the period Jun 2026 until Aug 2026 • No significant events were registered during the period
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2025/26 3 FROM THE CEO A more competitive portfolio The year in numbers Net sales for the full year were 264 MSEK, a decrease of 4% compared to the previous financial year, with an EBIT of 1 MSEK against a loss of 11 MSEK. EBITDA was 63 MSEK, an increase of 26%, and we generated an EBITDA-margin of 24% compared to 18% last year. Portfolio average revenue per daily active user (ARPDAU) for the full year was 9.0 US cents against 7.5 last year, an increase of 21% and the highest of any year in our history. The main driver behind this improvement is the increased focus on a richer live operations experience, including side cores, that run across several of our games. In the fourth quarter, net sales were 64 MSEK, down 17% compared to the same quarter last year, with an EBIT of 3 MSEK against a loss of 10 MSEK. Both the revenue development and the improved result were impacted by the lower level of user acquisition (UA) investment during the quarter. We invested 13 MSEK in UA, compared with 34 MSEK a year ago. The lower spend contributed positively to the result, while also having a negative impact on revenue. A richer live ops offering in our existing games Everything we build is aimed at one thing: a more competitive portfolio. Our games have always been well made. What our new technical platform and our shared playbook of features add is competitiveness in how we operate them; more of what works, in more of our games, faster. What we refer to as the playbook is a set of game agnostic features that are common in successful casual mobile games, for example a Battle Pass or a Piggy Bank. We are implementing the playbook feature set at a rapid pace, with the aim of rolling it out across all of our most significant games. Crozzle completed its migration to the latest version of our tech platform during the quarter and is now fully migrated. The migrated games show more time played per daily active user and better first-day retention among new players. More importantly, features can now be built once and then integrated across games in days or weeks rather than months. Wordzee received two new game cores during its migration that were built by other teams entirely, and our shared feature pipeline is now delivering into both Wordzee and Crozzle. Crozzle is launching a much anticipated and requested feature in October, namely Friend Games. The game will now accommodate both quick matches with instant response and friend games where the player and their friends take turns solving crosswords. We have seen in several of our other games how in-game relationship building can serve as the foundation for many years of engagement. Our ambition for Crozzle is to build another evergreen game that will be part of our portfolio for many years to come, and Friend Games is an important piece in that development.
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2025/26 4 FROM THE CEO A more competitive portfolio During the quarter we launched a new version of the Blaster side core in QuizDuel. In addition to improved graphics, we also added new capabilities like pre-game boosters and win streak mechanics. QuizDuel has seen a significant improvement in playtime and revenue contribution from Blaster as a result. A faster new games operation In our last report, we wrote that while testing five to six concepts per year would once have been a high pace for a company of our size, we now saw a realistic path towards testing a similar number every quarter. In the fourth quarter, we had six new games in testing: two trivia titles and four word games, each with its own app store presence and live player data analysis. This pace is possible because early concepts are now built almost entirely with AI, which makes them inexpensive to build, measure and evaluate. Most new games will not find an audience. That is exactly why the number of qualified attempts we can afford each year is one of the most important numbers in our business, and we have multiplied it within a quarter of setting the goal to do so. The two sides of the portfolio work together. AI takes us to a validated idea quickly and at low cost. Our tech platform is what takes a validated idea to a feature-complete product quickly, because the features it needs, to a large extent, already exist and have already been built. We see a significant increase in productivity across all of product development and will double down on that during the year to optimize our chances of riding this exciting wave of improvements in technology. Part of this includes recruiting more top talent in product management and game design. The coming year means investing in an exciting future with the aim of taking the company to a new level in terms of product performance and operations capacity. User acquisition follows competitiveness We invest as much in UA as we can within the payback rules that protect our future cash flow. Our general rule is 180 days to full payback, but it can be extended when a game has a proven long-term life time value development that can support it. The long-term goal for any cohort is to return at least 50% on top of the initial investment within 2-3 years of acquisition. Those rules are guard rails, not a target. What sets the amount they allow is how competitive our games are: the stronger a game performs, the more volume our prediction models will clear at an unchanged payback profile. UA is therefore a consequence of the work described above rather than a lever of its own, and it remains a key driver of long-term growth. Profitability in a single quarter is not a goal in itself. We are building towards 500 MSEK in annual revenues and an EBIT of 100 MSEK and on the way there, our result will vary with how much we are able to invest in UA.
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2025/26 5 FROM THE CEO A more competitive portfolio The year ahead We enter the new financial year with a product pipeline and a rate of new game testing we have not had before, a technical platform and a set of playbook features that make every game we operate more competitive, and a portfolio of live games that funds the new development. Our work this year will be focused on transforming the strong momentum we have in product development into increased UA volumes and revenue growth. The opportunity ahead of us is great, and we feel well positioned to take advantage of the speed that AI enables in both product development and marketing. Thanks to our shareholders for taking part in our journey and to everyone at MAG for the dedication and creativity that made this year's progress possible. Daniel Hasselberg, CEO
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2025/26 NoteJun 26-Aug 26Jun 25-Aug 25Y/Y changeSep 25-Aug 26Sep 24-Aug 25Y/Y change Net salesKSEK1,563,58376,817-17%263,903275,816-4% Adjusted net salesKSEK563,58376,817-17%263,903273,410-3% Currency (USD)SEK/USD9.619.580.3%9.3710.17-8% Net sales USD (In-app + advertising)KUSD6,6168,020-18%28,17827,1114% Adjusted net sales USDKUSD6,6168,020-18%28,17826,8845% In-app purchasesKSEK128,96238,545-25%125,659143,620-13% Advertising salesKSEK1, 534,27437,924-10%137,891131,8475% User acquisitionKSEK-12,973-34,354-62%-64,411-72,220-11% Game contributionKSEK342,05031,03136%163,790163,1180.4% EBITDAKSEK18,7375,05462,66949,786 EBITDA margin1%29.5%6.6%22.923.7%18.1%5.7 Adjusted EBITDAKSEK518,7385,05460,81553,870 Adjusted EBITDA margin1%29%7%2323%20%4 EBITKSEK2,990-9,8721,448-10,886 EBIT margin1%4.7%-12.9%17.60.5%-3.9%4.5 Adjusted EBITKSEK52,991-9,872-406-6,133 Adjusted EBIT margin1%5%-13%18-0%-2%2 ProfitKSEK2,700-8,145936-9,414 Earnings per shareSEK0.10-0.310.04-0.36 Adjusted earnings per shareSEK50.10-0.31-0.02-0.21 Free cashflowKSEK764-2,6506,8807,542 Average employeesFTE100965%101983% Daily active users (DAU)Millions0.80.9-13%0.91.0-14% Monthly active users (MAU)Millions2.02.3-14%2.12.5-14% Monthly unique payers (MUP)Thousands4048-17%43431% ARPDAUUS cent9.19.5-5%9.07.521% 1Y/Y change in percentage points Summary of the business’ Key performance indicators MAG InteractiveInterim Report Q4
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2025/26 CROZZLE MAG InteractiveInterim Report Q4 MAG’s new engaging crossword game Crozzle reinvents the classic crossword into a competitive multiplayer game. In Crozzle players challenge each other to earn the highest score by solving crossword puzzles on a shared board. Players place letter tiles to solve clues and complete words, using bonus squares for extra points. The game was soft launched in April 2025 in several English-speaking markets. Since then, Crozzle has launched globally and been localized into Spanish, French, German, Italian, Dutch, and all Scandinavian languages. As user acquisition continues to scale up, it lays the groundwork for Crozzle to firmly become one of MAG’s established growth games. Crozzle’s multiplayer, challenge-based format sustains high player engagement and retention, which helps Crozzle retain a high average revenue per daily user (ARPDAU). Strategic features like boosters and letter tile swaps enhance the crossword experience while creating diverse opportunities for monetization. Given the game’s expansion into European markets, continuous development of player events, fresh content and exclusive features, Crozzle is positioned to be a valuable growth product for the company.
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2025/26 WORDZEE MAG InteractiveInterim Report Q4 MAG’s unique growth game Wordzee is MAG's unique word game where players challenge each other to form words from letter tiles placed on a special game board. The player who fills the entire board takes home "Wordzee" and extra bonus points. The game was developed by MAG's studio in Brighton and is one of the company's main growth products. Wordzee was released globally in November 2019 and has shown a high average revenue per daily active user (ARPDAU) ever since. Wordzee encourages player engagement with fun daily challenges and many special events that all offer exclusive rewards. Unique and seasonal events are continuously added and consistently active, with alternating durations and themes that vary urgency of play and appeal to an increasingly broad range of players. Player engagement and sense of progression are strong focuses for Wordzee as they are key drivers in revenue growth and player loyalty. Wordzee continues to evolve with new features and optimizations on monetization and remains a strong growth product for MAG.
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2025/26 QuizDuel MAG InteractiveInterim Report Q4 Europe’s biggest trivia game on mobile QuizDuel is a social trivia game where players challenge friends and other players worldwide in quizzes. The game was released in 2012 and has reached over 100 million downloads in total. QuizDuel is a strong brand in both Sweden and Germany, the game's largest market, where a quiz show with the same name is also broadcast on TV. The game was launched in a new version in 2019 and, alongside classic quiz duels of six rounds with three knowledge questions, has introduced new game modes and events, including: Solo, Question Streak, Arena and Quinder. The game is MAG's largest product in terms of daily active users and also the largest mobile trivia game in Europe. Like many other games in MAG’s portfolio, QuizDuel has seen positive impact from events on its in-game economy, increased revenue and more paying players. Question Streak Leagues, where players compete on leaderboards for highest streaks, is among several of the game’s successful permanent game modes and features that contributes significantly to player engagement and loyalty. Additionally, progression displays like exclusive avatar frames encourage persistent revenues through more stable long-term engagement. The QuizDuel Teams feature, a collaborative game mode with team events, has made a positive impact on the game’s performance. Teams will continue to evolve over time with new social features and more opportunities for players to engage in collaborative play. Thanks to many improvements within the game, QuizDuel is still increasing its revenue. MAG sees continued growth potential in the product.
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2025/26 LIVE OPERATIONS MAG InteractiveInterim Report Q4 Ruzzle - reliable evergreen success Ruzzle is MAG's first word game success; it was launched globally in 2012 and has been downloaded over 60 million times. In Ruzzle, the player is challenged to find as many words as possible from a given set of letters within two minutes. The game is one of MAG's most important evergreens with a very loyal player base and generates long-term predictable revenue. Ruzzle continues to be a pillar in MAG's portfolio, in terms of both player engagement and revenue, and is a benchmark for how MAG wants to build future evergreens. Word Domination - evergreen with engaged player base Word Domination is a tactical word game where players compete against each other in real-time in exciting word battles. The game was released globally in 2018 and has reached over 10 million downloads. In Word Domination, the opponents challenge each other over five rounds and collect points by spelling words on a common board. With “booster cards”, players can tactically deploy time-limited advantages. The game enjoys a highly engaged player base, the majority of which are long-time fans that have been playing Word Domination for a year or more. WordBrain - evergreen with stable revenue stream The word puzzle game WordBrain has been live for over ten years and has grown into a strong evergreen for MAG with a stable revenue stream. In WordBrain, the player searches for secret words based on specific letter combinations on specific boards. The game has been downloaded over 40 million times in total and reached number one in 118 countries in the word game category on Apple's App Store. WordBrain has a stable and dedicated player base and is an important evergreen for the company. MAG continues to deliver new content to the game in the form of new puzzles and events.
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Consolidated profit/loss and cash flow For the period Jun 2026 until Aug 2026 2025/26 Operating income The Group's net sales for the quarter totalled 63,583 KSEK (76,817 KSEK), a decrease of 17%. The Group's net sales in USD for the quarter were 6,616 KUSD (8,020 KUSD), a decrease of 18%. The group’s net sales for the quarter were primarily attributable to the games QuizDuel, Wordzee, Ruzzle, Crozzle, WordBrain, Word Domination and Wordbubbles. Own work capitalised totalled 11,362 KSEK (8,581 KSEK). Other operating income for the quarter totalled to 503 KSEK (795 KSEK) and mainly consists of exchange rate gains, the comparison period also includes rental income from subletting of office space. Operating expenses, EBITDA and operating profit/loss Operating expenses for the quarter totalled 56,711 KSEK (81,140 KSEK). Of these,13,822 KSEK (16,147 KSEK) were sales related costs, primarily originating from fees to Apple App Store and Google Play, as well as server costs. In addition to this 12,973 KSEK (34,354 KSEK) were costs of user acquisition and 5,707 KSEK (6,683 KSEK) were other external operating expenses. User acquisition costs during the quarter are mainly attributable to the games Wordzee, Crozzle and QuizDuel. Personnel costs totalled 24,210 KSEK (23,956 KSEK), an increase of 1%. The average number of employees during the period was 100 (96) an increase of 5%. EBITDA for the quarter was 18,737 KSEK (5,054 KSEK). Adjusted EBITDA* was 18,738 KSEK (5,054 KSEK). Depreciation of tangible and intangible assets totalled 15,747 KSEK (14,926 KSEK), of which 12,199 KSEK (10,445 KSEK) was depreciation of capitalized development expenses. The Group's operating profit/loss (EBIT) was 2,990 KSEK (-9,872 KSEK). Adjusted EBIT* was 2,991 KSEK (-9,872 KSEK). Profit/loss before tax 3,587 KSEK (-9,944 KSEK). Financial items Financial income totalled 872 KSEK (555 KSEK) and financial expenses totalled 275 KSEK (627 KSEK). The financial income refers to interest income and exchange rate gains from cash & cash equivalent and the financial expenses to interest on financial leasing. Profit/loss for the quarter Profit/loss for the quarter was 2,700 KSEK (-8,145 KSEK). Earnings per share were 0.10 SEK/share (-0.31 SEK/share). Adjusted earnings per share* were 0.10 SEK/share (-0.31 SEK/share). The average number of shares during the quarter was 26,540,857 (26,494,653). Cash flow for the quarter The Group's cash flow from operating activities during the quarter was 10,268 KSEK (6,129 KSEK). Cash flow from investing activities was -9,504 KSEK (-8,779 KSEK). Cash flow from financing activities was -1,821 KSEK (-3,006 KSEK). * See Note 5: Adjusted net sales, Personnel costs, EBITDA, EBIT and profit/loss 11
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Consolidated profit/loss For the period Sep 2025 until Aug 2026 2025/26 Operating income The Group's net sales for the period totalled 263,903 KSEK (275,816 KSEK), a decrease of 4%. The comparison period includes net sales from divested operations. The Group's adjusted Net sales* for the period was 263,903 KSEK (273,410 KSEK), a decrease of 3%. The Group's Net sales in USD for the period were 28,178 KUSD (27,111 KUSD), an increase of 4%. The group’s net sales were primarily attributable to the games QuizDuel, Wordzee, Crozzle, Ruzzle, WordBrain, Word Domination and Wordbubbles. Own work capitalised totalled 55,068 KSEK (46,666 KSEK). Other operating income for the period totalled to 2,003 KSEK (4,664 KSEK) and consists mainly of exchange rate gains and rental income from subletting of office space up to and including December. Operating expenses, EBITDA and operating profit/loss Operating expenses totalled 258,305 KSEK (277,360 KSEK). Of these, 55,685 KSEK (64,402 KSEK) were sales related costs, primarily originating from fees to Apple App Store and Google Play, as well as server costs. In addition to this 64,411 KSEK (72,220 KSEK) were costs of user acquisition and 24,818 KSEK (32,628 KSEK) were other external operating expenses. The decrease is explained by the Primetime divestment loss of 2 MSEK in the comparison period, exchange rate effects and a rent concession reducing costs in the current period by approximately 2 MSEK. Personnel costs totalled 113,390 KSEK (108,110 KSEK) an increase of 5%. Personnel costs for the comparison period includes personnel costs from divested operations. The adjusted personnel costs* were 113,390 KSEK (105,724 KSEK) an increase of 7%. The increased personnel costs are mainly due to an increase in average number of employees, but also to a change in the handling of holiday pay liabilities in one of the subsidiaries. The average number of employees during the period was 101 (98), an increase of 3%. The adjusted average number of employees* during the period was 101 (95), an increase of 6%. EBITDA for the period was 62,669 KSEK (49,786 KSEK). Adjusted EBITDA* for the period was 60,815 KSEK (53,870 KSEK). Depreciation and impairments of tangible and intangible assets totalled 61,221 KSEK (60,672 KSEK), of which 45,878 KSEK (40,079 KSEK) was depreciation of capitalised development expenses. The Group's operating profit/loss (EBIT) was 1,448 KSEK (-10,886 KSEK). Adjusted EBIT* was -406 KSEK (-6,133 KSEK). Profit/loss before tax 1,761 KSEK (-11,403 KSEK). * See Note 5: Adjusted net sales, Personnel costs, EBITDA, EBIT and profit/loss12
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Consolidated profit/loss For the period Sep 2025 until Aug 2026 cont . 2025/26 Financial items Financial income totalled 2,532 KSEK (3,581 KSEK) and financial expenses totalled 2,220 KSEK (4,097 KSEK). The financial income referred to interest income and exchange rate gains from cash and cash equivalents. The financial expenses were mainly attributable to exchange rate losses from cash and cash equivalents and interest on financial leasing. Profit/loss for the period Profit/loss for the period totalled 936 KSEK (-9,414 KSEK). Earnings per share were 0.04 SEK/share (-0.36 SEK/share). Adjusted earnings per share* were -0.02 SEK/share (-0.21 SEK/share). The average number of shares during the period was 26,513,905 (26,494,653). * See Note 5: Adjusted net sales, Personnel costs, EBITDA, EBIT and profit/loss13 MAG InteractiveDelårsrapport Q2
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2025/26 MAG InteractiveThe group’s financial position at the end of the period Non-current assets Intangible non-current assets at the end of the period totalled 214,859 KSEK (211,769 KSEK), of which 125,794 KSEK (125,634 KSEK) relates to goodwill and 89,065 KSEK (86,135 KSEK) to other intangible assets. Other intangible assets consists of capitalized development expenses on own account 73,531 KSEK (64,342 KSEK) and acquired intellectual property 15,534 KSEK (21,793 KSEK). Tangible fixed assets amounted to 28,926 KSEK (8,952 KSEK) at the end of the period and mainly consisted of right-of- use assets 28,233 KSEK (8,248 KSEK). The increase in right-of-use assets consists of an extension of an existing lease agreement for office premises. Financial non-current assets amounted to 7,698 KSEK (9,727 KSEK) at the end of the period and consist of other long- term receivables, as rental deposits, amounting to 2,172 KSEK (4,084 KSEK), as well as deferred tax of 5,526 KSEK (5,643 KSEK). Current assets Current assets amounted to 118,839 KSEK (130,587 KSEK) at the end of the period and mainly consisted of trade and other receivables 26,681 KSEK (33,398 KSEK) and Cash and cash equivalents 84,811 KSEK (87,450 KSEK). Equity Equity at the end of the period totalled 299,847 KSEK (298,184 KSEK), corresponding to 11.3 SEK/share (11.3 SEK/share). The equity/assets ratio at the same time was 81.0% (82.6%). Liabilities Non-current liabilities amounted to 39,893 KSEK (21,409 KSEK) at the end of the period and mainly consisted of deferred tax liabilities of 18,347 KSEK (17,744 KSEK) and non-current lease liabilities of 21,546 KSEK (3,665 KSEK). The increase in non-current lease liabilities consists of an extension of an existing lease agreement for office premises. Current liabilities amounted to 30,581 KSEK (41,442 KSEK) at the end of the period and mainly consisted of accounts payable of 5,248 KSEK (18,209 KSEK), accrued expenses of 12,367 KSEK (13,769 KSEK), and the current portion of lease liabilities of 7,442 KSEK (5,334 KSEK). The group has interest bearing debt of 28,988 KSEK (8,999 KSEK) which refers to financial lease and are found in the balance sheet under non-current lease liabilities and current lease liabilities. The increase in lease liabilities consists of an extension of an existing lease agreement for office premises. Interim Report Q4
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Key indicators for the business Period Jun 2026 until Aug 2026 2025/26 Distribution of revenues by business model The Group’s net sales are distributed primarily between in-app purchases (purchases made inside games) and in-app advertising. Game contribution Cost levels of games marketed by MAG Interactive differ from game to game, both in their distribution costs (sales related costs) and marketing costs (performance based marketing). Additionally, these cost differences can be affected by the particular phase each game is in. The Group therefore reports the total contribution from games activities according to the following model: net sales generated from the games, including royalties, minus platform fees (mainly to fees for Apple App Store and Google Play) and performance-based marketing. Performance based marketing includes digital advertising and other advertising associated directly with the company’s products, as well as services and charges directly attributable to performance-based marketing. General marketing of the company and brand is not included in the cost of direct marketing. 15 Other key indicators The company monitors its operations according to a number of key performance indicators that reflect how the games industry in general measures its business activities. These indicators are defined as follows; DAU and MAU are defined as the number of unique daily and monthly users respectively that use one of the company’s products, presented as an average over the period, adjusted for the number of days in the months in the period. Each individual game’s unique users are summed up to present the company’s total unique users. MUP is the number of unique users who made a purchase in one of the company’s products. A purchase is defined as a purchase in accordance with the above definition of in-app purchases and to a value greater than zero. The value is reported as an average value over the three months in the period. ARPDAU is calculated as the company’s daily average of net sales during the period divided by DAU. Riksbanken’s, the Swedish national bank, average exchange rate per month is used for translation into USD. The business’s key indicators during the period Net sales from in-app purchases for the period were 28,962 KSEK (38,545 KSEK), a decrease of 25% compared to the same period the previous year. Net sales from in-app advertising were 34,274 KSEK (37,924 KSEK), a decrease of 10% compared with the same period the previous year. Game contribution for the period was 42,050 KSEK (31,031 KSEK), an increase of 36% compared to the same period the previous DAU for the period 0.8 million (0.9 million), a decrease of 13% compared with the same period the previous year. MAU for the period 2.0 million (2.3 million), a decrease of 14% compared with the same period the previous year. MUP for the period 40 thousand (48 thousand), a decrease of 17% compared with the same period the previous year. ARPDAU for the period 9.1 US cent (9.5 US cent), a decrease of 5% compared with the same period the previous year.
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2025/26 Parent company and group The parent company MAG Interactive AB (publ), corporate ID number 556804-3524, has its registered office in Stockholm with 87 employees. A big part of the Group’s business activity is in the parent company, with employees, agreements, intangible assets (incl. IP) and revenues. There are three subsidiaries in the group. MAG Games Ltd, with its registered office in Brighton and 23 employees, has only Group internal invoicing and carries out development and other functions in the company’s operations. MAG United AB, with its registered office in Stockholm, has no employees. Sventertainment AB, with its registered office in Stockholm, was the developer and publisher of the trivia app Primetime, the business was divested in January 2025. All employees transferred with the business, and Sventertainment AB no longer has any employees. Accounting principles The consolidated accounts for the MAG Interactive AB Group (“MAG Interactive”) have been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted by the EU as well as RFR 1 Complementary Accounting Rules for Groups and the Swedish Annual Accounts Act. This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting, the Swedish Annual Accounts Act and RFR 1 Complementary Accounting Rules for Groups. The parent company’s financial statements have been prepared in accordance with the Swedish Annual Accounts Act and the Swedish Annual Reporting Board’s recommendation RFR 2 Accounting for Legal Entities. The application of RFR 2 means that the parent company, in the interim report for the legal entity, applies all of the EU-adopted IFRS and statements as far as is possible within the framework of the Swedish Annual Accounts Act, the Swedish Act on Safeguarding Pension Commitments and with due reference to the relationship between accounting and taxation. For a more detailed description of the accounting policies applied for the Group and the parent company in this interim report, see Note 2 in the annual report for 2024/2025. Other disclosures 16
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2025/26 ANNUAL REPORT AND RESOLUTION REGARDING PROPOSAL OF DIVIDEND The board of MAG Interactive AB (publ) has decided to propose to the annual general meeting to adopt a resolution to not pay out dividends. Risks and uncertainties Like all other companies, MAG Interactive is exposed to risks in its business activities. To name some of these risks: dependence on key persons, exchange rate fluctuations, delays in launches, unsuccessful launches, changes in external sales partners when such changes are entirely beyond the company’s control. The company’s Board of Directors and management work on an ongoing basis on risk management in order to minimize these effects. For more information regarding the risks and uncertainties, please refer to the annual report of 2024/2025. Currency effects MAG Interactive is exposed to a large number of currencies based on the way that Google Play and Apple App Store operate. The most important market for the company is USA. In addition most of the advertising income is realized in USD, and the majority of the direct marketing is purchased in USD. The most important currency is thus USD. Certified advisEr FNCA Sweden AB is appointed as the Company’s Certified Adviser and ensures that the Company complies with the Nasdaq First North rules. FNCA does not hold any shares in MAG Interactive. Contact Further information is available on the company’s website: maginteractive.se/investor-relations Or contact Daniel Hasselberg, CEO, at daniel@maginteractive.se Magnus Wiklander, CFO, at magnus.wiklander@maginteractive.se MAG Interactive AB (publ) Drottninggatan 95A 113 60 Stockholm Sweden Other disclosures 17
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2025/26 Other disclosures Contd. Further reporting dates Audit This report has not been reviewed by auditors. Presentation On October 21st, 2026 at 10:00 CEST, CEO Daniel Hasselberg and CFO Magnus Wiklander will present the Interim Report live on Twitch. The presentation is held in English. Link to the Twitch feed www.twitch.com/maginteractive Daniel Hasselberg will also take questions on the social media platforms X and Bluesky during the course of the day, write on X to @d_hasselberg or @maginteractive, or to @mag-official on Bluesky More information is available at maginteractive.se/investors Statements about the future Certain formulations can be, or interpreted to be, forecasts about the future. In cases where such statements are made, MAG Interactive’s management and Board of Directors have assessed the assumptions behind these statements as being reasonable. There are, however, risks in all statements about the future, and the actual outcome with regard to the external environment and the company may deviate significantly from what has been stated. What is stated with reference to the future is made in the light of the information that the company has at the time of the statement, and the company assumes no obligation to update such statements if new information arrives at a later date that in any way changes the conditions relating to the statement. 18 Interim Report Q1 26/27 September – November 2026January 20, 2027 Annual General Meeting 2025/2026January 20, 2027 Interim Report Q2 26/27 December 2026 – February 2027April 7, 2027 Interim Report Q3 26/27 March – May 2027June 30, 2027 Interim Report Q4 26/27 June – August 2027October 20, 2027
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2025/26 Assurance by the board of directors The Board of Directors and the CEO certify that this report gives a true and fair overview of the Group's and the Parent Company's operations, financial position and results of operations, and describes the significant risks and uncertainties faced by the Parent Company and the companies included in the Group. Stockholm October 21, 2026 Jonas Eriksson Chairman of the Board Daniel Hasselberg CEO, Board member Taina Malén Board member BRITT BOESKOV Board member ÅSA LINDER Board member MAG InteractiveAssurance by the board of directors 19 Asbjoern Soendergaard Board member
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2025/26 Amounts in KSEKNoteJun 26-Aug 26Jun 25-Aug 25Sep 25-Aug 26Sep 24-Aug 25 Operating income Net sales1,563,58376,817263,903275,816 Own work capitalised11,3628,58155,06846,666 Other operating income5037952,0034,664 Total75,44886,194320,974327,146 Operating expenses Sales related costs2-13,822-16,147-55,685-64,402 User acquisition -12,973-34,354-64,411-72,220 Other external expenses5-5,707-6,683-24,818-32,628 Personnel costs5-24,210-23,956-113,390-108,110 Total operating expenses-56,711-81,140-258,305-277,360 EBITDA518,7375,05462,66949,786 Depreciation and write-downs of tangible and intangible non-current assets4-15,747-14,926-61,221-60,672 Operating profit/loss (EBIT)52,990-9,8721,448-10,886 Financial items Interest income8725552,5323,581 Interest expense-275-627-2,220-4,097 Total financial items597-72312-517 Profit/loss before tax53,587-9,9441,761-11,403 Taxes-8871,799-8241,989 Profit/loss for the period52,700-8,145936-9,414 Other comprehensive result Exchange rate differences893-214257-1,252 Total comprehensive income for the period3,594-8,3591,194-10,666 The profit/loss and total comprehensive income for the year are attributable in full to the parent company’s shareholders. Earnings per share (based on average number of shares)0.10-0.310.04-0.36 Earnings per share fully diluted (based on average number of shares)0.10-0.310.04-0.36 Average number of shares during the period (‘000)26,54126,49526,51426,495 Average number of shares fully diluted during the period (‘000)26,56626,51326,52826,499 Number of shares at the end of the period (‘000)26,54126,49526,54126,495 Number of shares fully diluted at the end of the period (‘000)26,57026,53026,57026,530 MAG InteractiveConsolidated statement of comprehensive income 20 Interim Report Q4
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2025/26 MAG InteractiveConsolidated balance sheet Assets Amounts in KSEKNote31/8 202631/8 2025 ASSETS Goodwill125,794125,634 Other intangible assets89,06586,135 Total intangible assets4214,859211,769 Right-of-use assets28,2338,248 Equipment, tools, fixtures and fittings693703 Total tangible assets428,9268,952 Other long-term receivables2,1724,084 Deferred tax assets5,5265,643 Total financial non-current assets7,6989,727 Total non-current assets251,482230,447 Current assets Trade and other receivables26,68133,398 Current tax assets1,81619 Other current receivables3601,940 Prepaid expenses and accrued income5,1717,781 Cash and cash equivalents84,81187,450 Total current assets118,839130,587 TOTAL ASSETS370,321361,034 21 Interim Report Q4
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2025/26 MAG InteractiveCONSOLIDATED BALANCE SHEET LIABILITIES AND EQUITY Amounts in KSEKNote31/8 202631/8 2025 EQUITY AND LIABILITIES Equity Share capital689688 Other external capital282,960283,178 Reserves-147-405 Retained earnings incl. profit/loss for the period16,34514,722 Total equity299,847298,184 Long-term liabilities Deferred tax liabilities18,34717,744 Long-term lease liabilities21,5463,665 Total long-term liabilities39,89321,409 Current liabilities Trade and other payables5,24818,209 Current tax liabilitiy1437 Accrued expenses and prepaid income12,36713,769 Short-term lease liabilities7,4425,334 Other current liabilities5,5233,693 Total current liabilities30,58141,442 TOTAL EQUITY AND LIABILITIES370,321361,034 22 Interim Report Q4
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2025/26 MAG InteractiveCONSOLIDATED CASH FLOW Statement 23 Interim Report Q4 Amounts in KSEKNoteJun 26-Aug 26Jun 25-Aug 25Sep 25-Aug 26Sep 24-Aug 25 Operating activities Operating profit/loss (EBIT)2,990-9,8721,448-10,886 Adjustments for items not part of cash flow LTIP105152574372 Depreciations and write-downs415,74714,92661,22160,672 Loss on disposal of equipment001020 Result of divestment0002,000 Interest received4585551,9542,949 Interest paid-275-98-1,002-551 Tax paid-483-325-2,249-2,705 Cash flow from operating activities before change in working capital18,5425,33962,04851,851 Change in current operating receivables3,593-6,79710,820-4,350 Change in current operating liabilities-11,8677,587-12,5337,035 Change in working capital-8,274790-1,7132,685 Cash flow from operating activities10,2686,12960,33554,536 Investing activities Capitalized work-11,362-8,581-55,068-46,666 Investments in tangible non-current assets-125-198-379-328 Change in long-term assets1,98301,9840 Sales of tangible non-current assets0090 Divestment net cash impact0000 Cash flow from investing activities-9,504-8,779-53,454-46,994 Free cashflow764-2,6506,8807,542 Financing activities LTIP programs00-2010 Amortized leasing liabilities-1,821-3,006-8,668-11,718 Dividend000-26,495 Cash flow from financing activities-1,821-3,006-8,869-38,213 Increase/decrease in cash and cash equivalents Cash flow for the period-1,057-5,656-1,988-30,671 Effects of exchange rate changes870-643-650-3,714 Opening cash and cash equivalents84,99893,74887,450121,835 Closing cash and cash equivalents84,81187,45084,81187,450
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2025/26 MAG InteractiveConsolidated statement of Changes in equity KSEK Share capital Other external capital Reserves Retained earnings Total equity Opening balance 1/9 2025 688 283,178 -405 14,722 298,184 Profit/loss for the period936 936 Exchange rate differences257 257 Total comprehensive income257 936 1,194 LTIP 11 -202 574 373 Cumulative translation adjustment -16 113 97 Closing balance 31/8 2026 689 282,960 -147 16,345 299,847 24 Interim Report Q4 KSEK Share capital Other external capital Reserves Retained earnings Total equity Opening balance 1/9 2024688 284,544 847 48,893 334,972 Profit/loss for the period-9,414 -9,414 Exchange rate differences-1,252 -1,252 Total comprehensive income-1,252 -9,414 -10,666 LTIP 2-1,366 1,738 372 Dividend-26,495 -26,495 Closing balance 31/8 2025688 283,178 -405 14,722 298,184 1 The movement in Other External Capital represents issue costs for the 23–26 programme. 2 A reallocation between Other External Capital and Retained Earnings related to the ongoing share savings programs was made during Q3 24–25 to better reflect the nature of the programs. From Q3 24–25 onwards, the share savings programs are consistently recognized under Retained Earnings.
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2025/26 MAG InteractiveParent company CONDENSED INCOME STATEMENT Amounts in KSEKJun 26-Aug 26Jun 25-Aug 25Sep 25-Aug 26Sep 24-Aug 25 Operating income64,08277,607265,733277,965 Operating expenses-58,182-84,577-267,621-284,833 Depreciations & write-downs-1,593-4,094-9,554-16,919 Operating profit/loss4,307-11,064-11,442-23,787 Financial items 54315,83091010,136 Profit/loss before tax4,8494,765-10,533-13,651 Appropriations (group contribution)310-20,030310-20,030 Taxes-1,1465,8791,1726,778 Profit/loss for the period4,013-9,386-9,051-26,903 The parent company has no items recorded as other comprehensive income, and total comprehensive income therefore corresponds with the profit/loss for the period. 25 Interim Report Q4 CONDENSED BALANCE SHEET Amounts in KSEK31/8 202631/8 2025 ASSETS Intangible assets15,53324,960 Tangible non-current assets372391 Financial non-current assets23,28825,393 Total non-current assets39,19350,744 Current assets33,05641,331 Cash and cash equivalents74,14377,896 TOTAL ASSETS146,392169,971 EQUITY AND LIABILITIES Restricted equity689688 Non-restricted equity120,251128,931 Total equity120,940129,619 Long-term liabilities 3,2004,489 Current liabilities22,25235,863 TOTAL EQUITY AND LIABILITIES146,392169,971
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2025/26 MAG InteractiveDefinitions TermDescription Net salesTotal game revenue, drawn from In-app purchases and advertising sales. MAG records the full value of items sold as In- app purchases (mainly Apple and Google) and reports the platform share as Sales related costs. This is specified under the term Platform fee. In-app purchasesThe value of purchases made in an app through Google Play or Apple App Store or other such store. Advertising salesNet sales from ads in the games. Activated costs for own account Development work activated to the balance sheet. The company activates personnel costs, including social fees and other personnel related costs such as office space, for infrastructure to the games, games in soft launch and live games. Soft launch is the last development phase prior to global launch and the probability of a global launch is high. MAG has not had any write-downs of activated costs for own account since the company went public. Platform fee30% of the In-app purchases are costs to the platform, primarily Google Play and Apple App Store. Certain platforms offer a 15% discount for subscriptions, and currently also a discount of 15% for the first million USD of revenue for the year and 5 % on new subscriptions. User acquisitionMarketing costs with direct connection to one of the games and with measurable effect and demands on ROI (return on investment). A common ROI requirement is to have the investment paid back as net revenues within six or nine months, and longer periods can be relevant in situations with strong retention and long term monetization. Game contributionNet sales generated from the games, including royalties, minus platform fees (primarily to Google and Apple) minus direct performance marketing (user acquisition). EBITDAProfit/loss before financial items, taxes, depreciation and write-downs. Free cashflowCash flow from operating activities plus cash flow from investing activities. Equity/asset ratioEquity end of period as a percentage of balance sheet total. DAUAverage number of Daily Active Users for the days during the period. Calculated as the sum of DAU for the individual games in such a way so that a player that plays more than one game in one day is counted once per game. MAUAverage number of Monthly Active Users over the months during the period. Calculated as the sum of MAU for the individual games in such a way so that a player that plays more than one game in one month is counted once per game. An average over the months in the period is calculated. MUPAverage Monthly Unique Payers during the period is the total number of unique users that makes an In-app purchase in a game. Counted in such a way that a user that makes purchases in more than one game during the month is counted once per game. An average over the months in the period is calculated. ARPDAUDaily average Net sales per daily active user (DAU). If nothing else is stated this is measured in US cents. 26 Interim Report Q4
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2025/26 MAG InteractiveNotes to the interim report In-app purchases28,96238,545125,659143,620 Advertising income34,27437,924137,891131,847 Other347348353349 Total63,58376,817263,903275,816 Note 2: sales related costs Platform fee-8,560-11,432-35,702-40,478 Server costs-4,549-4,044-17,182-20,058 Other sales related costs-713-671-2,802-3,865 Total sales related costs-13,822-16,147-55,685-64,402 Note 1: distribution of net sales 27 Interim Report Q4 Jun 26-Aug 26Jun 25-Aug 25Sep 25-Aug 26Sep 24-Aug 25 Amounts in KSEK 0 Note 3: game contribution Group In-app purchases28,96238,545125,659143,620 Advertising income34,27437,924137,891131,847 Other net sales347348353349 Net sales 63,58376,817263,903275,816 Platform fee-8,560-11,432-35,702-40,478 User acquisition-12,973-34,354-64,411-72,220 Game contribution42,05031,031163,790163,118
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2025/26 MAG InteractiveNotes to the interim report 28 Interim Report Q4 Jun 26-Aug 26Jun 25-Aug 25Sep 25-Aug 26Sep 24-Aug 25 Amounts in KSEK Right-of-use assets-1,902-2,707-8,667-10,939 Equipment, tools, fixtures and fittings-80-208-416-1,395 Intellectual properties-1,565-1,565-6,260-8,260 Own work capitalized-12,199-10,445-45,878-40,079 Total-15,747-14,926-61,221-60,672 Note 4: Depreciation and write-downs of tangible and intangible non-current assets
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2025/26 MAG InteractiveNotes to the interim report 29 Interim Report Q4 Jun 26-Aug 26Jun 25-Aug 25Sep 25-Aug 26Sep 24-Aug 25 Amounts in KSEK Note 5: Adjusted net sales, Personnel costs, EBITDA, EBIT and profit/loss Net sales63,58376,817263,903275,816 Ad revenue from divested operations (Primetime)000-2,406 Total adjustments of net sales000-2,406 Adjusted Net sales63,58376,817263,903273,410 Organic growth-17%-3% Personnel costs-24,210-23,956-113,390-108,110 Personnel costs from divested operations (Primetime)0002,386 Total adjustments of personnel costs0002,386 Adjusted personnel costs -24,210-23,956-113,390-105,724 FTE1009610198 Adjustment FTE divested operations000-3 Adjusted FTE 1009610195 EBITDA18,7375,05462,66949,786 Total adjustments of net sales000-2,406 Total adjustments of personnel costs0002,386 Other costs from divested operations (Primetime)10132,104 Loss from divestment (Primetime)0002,000 Rent discount office00-1,8670 Total adjustments of EBITDA10-1,8544,084 Adjusted EBITDA18,7385,05460,81553,870
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2025/26 MAG InteractiveNotes to the interim report Contd. 30 Interim Report Q4 Jun 26-Aug 26Jun 25-Aug 25Sep 25-Aug 26Sep 24-Aug 25 Amounts in KSEK CONDT . Note 5: Adjusted net sales, Personnel costs, EBITDA, EBIT and profit/loss EBIT2,990-9,8721,448-10,886 Total adjustments of EBITDA10-1,8544,084 Depreciations from divested operations (Primetime)0002 Write down of IP000667 Total adjustments of EBIT10-1,8544,753 Adjusted EBIT2,991-9,872-406-6,133 Profit/loss for the period2,700-8,145936-9,414 Total adjustments of EBIT10-1,8544,753 Financial items from divested operations (Primetime)00-31 Tax effect on adjustments-00383-979 Total adjustments of the profit/loss for the period10-1,4743,775 Adjusted profit/loss for the period2,701-8,145-538-5,639 Adjusted earnings per share0.10-0.31-0.02-0.21
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Good times