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STRONG GROWTH AND HEALTHY PROFITABILITY IN GAMES , SUPPLY CHAIN CHALLENGES FOR THE DISTRIBUTION SEGMENT THIRD QUARTER JULY - SEPTEMBER 2021 ● ● ● Q3 ● ● Operating profit ( EBIT ) declined 17.2 % to 64.8 MSEK ( 78.3 ) , corresponding to an operating margin of 8.5 % ( 10.1 ) . • Profit for the quarter amounted to 48.5 MSEK ( 56.2 ) . ● Revenue decreased -1.6 % to 762.0 MSEK ( 774.6 ) . Adjusted EBITA fell -3.3 % to 84.7 MSEK ( 87.6 ) , corresponding to an adjusted EBITA margin of 11.1 % ( 11.3 ) . Adjusted EBITDA increased 7.3 % to 98.3 MSEK ( 91.6 ) , corresponding to an adjusted EBITDA margin of 12.9 % ( 11.8 ) . THUNDERFUL GROUP INTERIM REPORT JANUARY - SEPTEMBER 2021 Earnings per share after dilution amounted to 0.70 SEK ( 1.12 ) . Operating cash flow amounted to -205.6 MSEK ( 69.7 ) . Thunderful Group acquired the game studio To The Sky on 10 August 2021 . Thunderful Group acquired the Spanish game studio Stage Clear Studios , SL on 2 September 2021. Refer to Note 1 . EVENTS AFTER THE END OF THE QUARTER Operating income , MSEK Net revenue , MSEK Gross profit , MSEK Gross margin Operating profit ( EBIT ) , MSEK Operating margin ( EBIT margin ) EBITA , MSEK Adjusted EBITA , MSEK Adjusted EBITA margin EBITDA , MSEK KEY PERFORMANCE INDICATORS GROUP Adjusted EBITDA , MSEK Adjusted EBITDA margin Profit for the period , MSEK Net working capital , MSEK Operating cash flow , MSEK Cash conversion • Thunderful Group acquired Robot Teddy Ltd on 27 October 2021 . GAMES DISTRIBUTION • Thunderful Group acquired Early Morning Studio AB on 16 November 2021 . Quarter Jul - Sep 2021 762.00 738.90 225.6 29.6 % 64.8 8.5 % 81.6 84.7 11.1 % 95.2 98.3 12.9 % 48.5 896.3 -205.6 -209 % 22.8 0.1 0.70 0.70 Interest - bearing net debt , MSEK Interest - bearing net debt / adjusted EBITDA , LTM Earnings per share before dilution , SEK Earnings per share after dilution , SEK * See Note 2 Revaluation of acquisition analysis according to IFRS 3 . PERIOD JANUARY - SEPTEMBER 2021 Revenue increased 5.2 % to 1,887.1 MSEK ( 1,794.0 ) . • Adjusted EBITA rose 3.5 % to 181.2 MSEK ( 175.0 ) , corresponding to an adjusted EBITA margin of 9.6 % ( 9.8 ) . • Adjusted EBITDA increased 14.0 % to 215.6 MSEK ( 189.2 ) , corresponding to an adjusted EBITDA margin of 11.4 % ( 10.5 ) . . Operating profit ( EBIT ) declined 15.0 % to 125.1 MSEK ( 147.1 ) , corresponding to an operating margin of 6.6 % ( 8.2 ) . • Profit for the period amounted to 82.1 MSEK ( 100.5 ) Earnings per share after dilution amounted to 1.18 SEK ( 2.01 ) . Operating cash flow amounted to -174.8 MSEK ( 151.9 ) . . ● • On 15 March 2021 , Thunderful Group acquired the German game publisher and game developer Headup GmbH . Refer to Note 1 . . . Thunderful Group's subsidiary Coatsink Software Ltd signed new game development agreements valued at more than 20 MUSD . Thunderful Group acquired Tussilago AB's full operations on a capital basis on 31 May 2021 . Thunderful Group acquired the game studio To The Sky on 10 August 2021 . Thunderful Group acquired the Spanish game studio Stage Clear Studios , SL on 2 September 2021. Refer to Note 1 . Jul - Sep 2020 774.60 764.40 168.3 21.7 % 78.3 10.1 % 87.6 87.6 11.3 % 91.6 91.6 11.8 % 56.2 530.0 69.7 76 % 185.2 0.6 1.12 1.12 Period Jan - Sep 2021 1,887.10 1,818.20 585.2 31.0 % 125.1 6.6 % 174.9 181.2 9.6 % 209.3 215.6 11.4 % | 1 82.1 896.3 -174.8 -81 % 22.8 0.1 1.19 1.18 12 months Jan - Sep 2020 Oct 2020 - Sep 2021 1,794.00 1,774.80 409.9 22.8 % 147.1 8.2 % 175.0 175.0 9.8 % 189.2 189.2 10.5 % 100.5 530.0 151.9 80 % 185.2 0.6 2.01 2.01 3,175.40 3,091.20 868.5 27.4 % 192.9 6.1 % 256.7 277.7 8.7 % 296.8 317.8 10.0 % 119.2 896.3 -187.5 -59 % 22.8 0.1 1.80 1.79 Full year * 2020 3,082.30 3,047.80 693.2 22.5 % 214.9 7.0 % 256.8 271.5 8.8 % 276.7 291.4 9.5 % 137.4 541.1 10.0 3 % -305.1 -1.0 2.65 2.64 WWW.THUNDERFULGROUP.COM