SUMO GROUP PLC Full Year Results 2020

• Certain statements included or incorporated by reference within this presentation may constitute “forward-looking statements” in respect of the Group’s operations, performance, prospects and/or financial condition.

• By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions and actual results or events may differ materially from those expressed or implied by those statements. Accordingly, no assurance can be given that any particular expectation will be met and reliance should not be placed on any forward-looking statement. Additionally, forward- looking statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. No responsibility or obligation is accepted to update or revise any forward-looking statement resulting from new information, future events or otherwise. Nothing in this presentation should be construed as a profit forecast.

• This presentation does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any shares or other securities in the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment or investment decisions relating thereto, nor does it constitute a recommendation regarding the shares and other securities of the Company. Past performance cannot be relied upon as a guide to future performance and persons needing advice should consult an independent financial adviser.

• Statements in this presentation reflect the knowledge and information available at the time of its preparation. Liability arising from anything in this presentation shall be governed by English Law. Nothing in this presentation shall exclude any liability under applicable laws that cannot be excluded in accordance with such laws. Sumo Group plc INTRODUCTION

FY20 results ahead of market expectations

Continuing strong and resilient performance through COVID-19 pandemic

3-star accreditation in B’Heard Engagement survey

Growth in headcount to 1,043 at December 2020 up 277 from December 2019

Acquisitions of:

• Lab42 (May 2020) • Pipeworks (October 2020) Key messages: Our people • PixelAnt (January 2021) Acquisitions Launch of Secret Mode in March 2021 Secret Mode Very strong market backdrop

FY21 very positive outlook Visibility of 2021 development fees

Slide 3 Sumo Group plc SUMO GROUP SINCE THE IPO >34% Revenue CAGR since 2017 1043 >25% Adjusted EBITDA

Total heads 766 869 CAGR since 2017 Direct heads Number of people 592 634 24% Organic revenue 489 68.9 growth 2019 to 488 2020 415 49.0 38.7 Revenue (in £m) 28.6

14.1 16.5 10.2 Adjusted EBITDA (in £m) 8.4

December 2017 December 2018 December 2019 December 2020 Year end studios: 5 7 10 12 13 (March 2021)

Acquisitions:

Slide 4 Sumo Group plc THE YEAR IN LAUNCHES AND ANNOUNCEMENTS IP -

OWN ANNOUNCED

JAN ‘20 FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC IP - CLIENT

NOW WORKING ON MORE THAN 40 PROJECTS WITH 28 DIFFERENT CLIENTS OF WHICH EIGHT ANNOUNCED (UP FROM 21 PROJECTS WITH 12 DIFFERENT CLIENTS AT APRIL 2020)

Slide 5 Sumo Group plc AWARD WINNING

Slide 6 Sumo Digital LONG TERM CONTRACTED REVENUE

2021 2022 2023

JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC JAN FEB MAR APR MAY JUN JULY AUG SEPT OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC

85% 60% 35%

Contracted Near-Contracted Slide 7 Pipeworks

LONG TERM CONTRACTED REVENUE

2021 2022 2023

JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC JAN FEB MAR APR MAY JUN JULY AUG SEPT OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC

50% 24% 11%

Contracted Near-Contracted

Slide 8 Sumo Group plc COVID-19 UPDATE

• All studios have been working remotely for 12 months Working remotely

• Caring and homeschooling support • Over 8,000 care packages shipped to our people Maintaining our culture • Coffee mornings, Yoga evenings, quiz nights, movie nights, etc. • Mental health first aid support

Government support measures • Have not taken any and do not expect to do so

Return to the studios • Managed re-opening of studios with greater flexibility

Slide 9 Sumo Group plc IMPACT OF COVID-19

• Operational effectiveness maintained in all tracked projects whilst remote working Operating effectively • Successfully delivered 279 milestones in 2020 • Project closure more challenging

Successful milestone deliveries: 4/4

SuccessfulSuccessful milestone Successfulmilestone deliveries: deliveries:milestone 7/7 deliveries:4/4 7/7 Successful milestone deliveries: 9/9 Slide 10 Sumo Group plc FINANCIAL HIGHLIGHTS

Adjusted gross margin Utilisation (Group) Revenue Adjusted gross profit (New definition)

£68.9m £31.7m 41.8% 92.6% + 40.7% + 25.8%

(FY19: £49.0m) (FY19: £25.2m) (FY19: 44.8%) (FY19: 95.8%)

Cash flows from Development fee Adjusted EBITDA Net cash operating activities visibility

Sumo Digital: 85% £16.5m £12.7m £6.8m + 17.1% Pipeworks: 50%

(FY19: £14.1m) (FY19: £16.3m) (Dec 19 £12.9m & Jun 20 £15.2m) (FY19: Sumo Digital 73%)

1. Adjusted gross profit is calculated as statutory gross profit adjusted for net investment in co-funded games expensed 2. Adjusted gross margin is now calculated as adjusted gross profit as a percentage of revenue and Video Games Tax Relief 3. Adjusted EBITDA is set out later in this presentation 4. Adjusted gross profit, adjusted gross margin and adjusted EBITDA are non-GAAP metrics used by management and are not an IFRS disclosure 5. Some figures in this presentation have been rounded to one decimal place Slide 11 Sumo Group plc REVENUE

FY20 FY19 YoY growth £m £m Client-IP

Development 55.4 31.3

Royalty 1.3 1.3

Own-IP

Development 9.9 16.0

Royalty 1.9 - Significant Own-IP Royalties

Game revenues 0.4 0.4

Total revenue 68.9 49.0 40.7%

Client-IP 82% 67%

Own-IP 18% 33%

Client-IP: Strong track record of creating high quality content for publishers and likely to continue to represent majority of revenue

Own-IP: Longer term monetisation opportunity and range of project sizes with larger projects entirely or mainly funded by publishers

Overall mix of Client-IP & Own-IP will vary depending on project mix and status during the financial period

Slide 12 Sumo Group plc STATUTORY AND ADJUSTED GROSS MARGIN

Royalties FY20 FY19 Now incur costs to generate royalties so no £m £m longer exclude royalty income in Adjusted Gross Margin. Revenue 68.9 49.0

VGTR 6.9 7.4 VGTR VGTR a proxy for revenue in UK – No equivalent in Oregon. Revenue + VGTR 75.9 56.3

Pipeworks 31.5 23.9 Statutory gross profit • Considered cost classification following acquisition. • Tend to use more contractors. Investment in co-funded games expensed 0.2 1.3 • Gross margin is lower than Sumo Digital. • Underlying gross profit per direct head at least Adjusted gross profit 31.7 25.2 in line with Sumo Digital.

Underlying gross margin Underlying Adjusted Gross Margin remains Statutory gross margin 45.7% 48.9% strong at 43.2% - after Snake Pass 2 and holiday pay accrual flagged at H1. 2.5 months of Pipeworks has 1% impact on gross margin. Adjusted gross margin 41.8% 44.8%

Slide 13 Sumo Group plc ADJUSTED EBITDA

FY20 FY19 £m £m

Statutory operating profit 1.3 7.5

£1.7m Pipeworks – expected to be £4.5m Amortisation 2.1 0.8 in 2021 and £4m in 2022

Depreciation 3.5 2.2

Share based payments 5.0 2.7

Investment in co-funded games expensed 0.2 1.3

Operating lease costs capitalised under IFRS 16 (1.5) (0.9)

Foreign currency derivative contracts (1.0) -

Exceptional items 4.1 0.5 Transaction fees

Fair value loss on contingent consideration 2.7 -

Adjusted EBITDA 16.5 14.1

Adjusted EBITDA margin 23.9% 28.7%

Expect H2 weighting once more in 2021 Slide 14 Sumo Group plc CONSOLIDATED CASH FLOW STATEMENT

FY20 FY19 Y/e 31 December £m £m Operating profit 1.3 7.6 Depreciation 3.5 2.2 Amortisation 2.2 0.8 Fair value loss on contingent consideration 2.7 - Share based payment charge 5.0 2.6 Movement in trade and other receivables (3.7) 1.8 FY19 contract unwind Movement in trade and other payables 1.7 1.3 Net cash flow from operating activities 12.7 16.3 Net finance (costs) (0.3) (0.2) Tax received / (paid) 0.6 (1.6) Purchase of intangible assets (1.4) (0.8)

Capex (4.3) (3.3) Expect c£7.5m in 2021 including £2.5m at Pipeworks Acquisitions (25.3) - Acquisition of Lab42 and Pipeworks Net proceeds from issue of shares 13.1 - Placing in July 2020 Proceeds of borrowings 14.2 - Repayment of borrowings (10.0) - Outflow of financial debt – IFRS 16 (1.0) (1.0) Net cash (outflow)/inflow (1.7) 9.4

Slide 15 Sumo Group plc WORKING CAPITAL

June 2019 December 2019 June 2020 December 2020 £m £m £m £m Revenue in excess of billings “Contract 1” 2.3 1.3 1.6 - Other 3.3 6.9 4.8 9.2 Trade debtors 11.1 5.8 6.9 10.3 Work in progress 0.8 0.7 0.1 - VGTR 10.0 5.7 6.5 7.4 Other 1.8 3.2 3.7 4.1 29.3 23.6 23.6 31.0 Trade creditors (6.3) (3.1) (2.3) (4.2) Contract liabilities (0.8) (0.4) (0.5) (0.9) IFRS 16 lease liabilities < 1 year (1.0) (0.8) (1.3) (1.4) Other provisions (7.5) (9.9) (8.9) (14.5) (15.6) (14.2) (13.0) (21.0) Net working capital (exc. IFRS16 lease 14.7 10.2 11.9 11.4 liability) Net cash 4.3 12.9 15.2 6.8

Slide 16 Sumo Group plc CONSOLIDATED BALANCE SHEETS

December 2020 December 2019 £m £m Goodwill on acquisition Goodwill and intangibles 102.2 24.0 of Pipeworks PPE 20.6 11.7

Deferred tax asset (net) 0.3 2.5

Trade and other receivables 31.0 23.7

Cash 10.8 12.9

Bonus provision and VGTR Trade and other payables (21.0) (14.2) payable

Borrowings (4.0) - $5.5m debt in US

Corporation tax (payable) / receivable (0.4) 0.7

IFRS 16 lease liabilities > 1 year (12.3) (6.5)

Contingent consideration (31.3) - Pipeworks

Net assets 95.9 54.8

Slide 17 Sumo Group plc CLIENT AND PROJECT CONCENTRATION

FY 17 FY 18 FY 19 FY 20

A 1ST 2 PROJECTS 2ND 2 PROJECTS 3RD 5 PROJECTS

B 2ND 1 PROJECT

C 3RD 3 PROJECTS 1ST 3 PROJECTS 1ST 2 PROJECTS 2ND 3 PROJECTS

D 3RD 1 PROJECT CLIENT

E 2ND 2 PROJECTS

F 3RD 3+ PROJECTS 1ST 3+ PROJECTS

6 PROJECTS 6 PROJECTS 7 PROJECTS 11 PROJECTS 58% 53% 64% 48% 3 clients each >10% 4 clients each >10% 4 clients each >10% 2 clients each >10%

FY20 includes Pipeworks post-acquisition

Slide 18 Sumo Group plc

LIVE PROJECTS (1 of 2) ANNOUNCED UNANNOUNCED

Little Big Planet 3 FORZA HORIZON 4 HOOD LITTLE ORPHEUS Unannounced Unannounced FOOTBALL MANAGER 21 HUMAN FALL FLAT (Sony Interactive STEAM SKU NEW-IP (Focus Interactive) (Sumo Own-IP) (2K) (Dapper Labs) (Sports Interactive) (Curve Digital) Entertainment) (Microsoft)

Sackboy: A Big Adventure NEW-IP NEW-IP NEW-IP CO-DEVELOPMENT CO-DEVELOPMENT CO-DEVELOPMENT WORK-FOR-HIRE (Sony Interactive Entertainment)

Unannounced CO-DEVELOPMENT CO- DEVELOPMENT AAA FRANCHISE WORK-FOR-HIRE WORK-FOR-HIRE CO-DEVELOPMENT WORK-FOR-HIRE (2K)

Unannounced CO-DEVELOPMENT WORK-FOR-HIRE WORK-FOR-HIRE WORK-FOR-HIRE WORK-FOR-HIRE (2K) (Sumo Insourcing)

WORK-FOR-HIRE NEW-IP WORK-FOR-HIRE (Sumo Insourcing)

AAA FRANCHISE WORK-FOR-HIRE

AAA FRANCHISE

WORK-FOR-HIRE

Slide 19 Sumo Group plc

LIVE PROJECTS (2 of 2) ANNOUNCED UNANNOUNCED

Magic The Prominence Gathering - Rival Peak Poker Spellslingers + MULTIPLE UNANNOUNCED LIVE PROJECTS (Facebook) (Pipeworks Own- (Wizards of the IP) Coast)

Puzzle Call of Duty: +15 OTHER LIVE PROJECTS Mortal Kombat Player Halo Infinite Combat Black Ops Cold INCLUDING: 11 - DLC Minecraft Earth Unknown’s (XBOX Game (Small Giant War (NetherRealm / (Microsoft) Battlegrounds Studios) Games / (Activision / MULTIPLE AAA NEW-IP WB Games) (PUBG Corp) Zynga) Treyarch) MULTIPLE AAA LICENSED IP

• Responsibility for publishing Sumo IP: Spyder, Little Orpheus, Snake Pass, Dear Esther, Prominence Poker, Pass the Punch • Commercial outlet for creative Own-IP games from within the group • Opportunity to publish small games from indie developers

Slide 20 Sumo Group plc PEOPLE 31 December 30 June 31 December 2019 2020 2020 Direct Sumo Digital + Atomhawk 634 686 741 Pipeworks - - 128 Total 634 686 869 Indirect 132 146 174

Total headcount 766 832 1,043

• Acquisitions – Lab42 team of 29 and Pipeworks team of 134 • Attrition rates – 9.26% in UK (2019: 8.59%), 8.34% in India (2019: 11.45%), and 9.17% for Group (2019: 9.21%) • Utilisation – 95.7% in UK (2019: 96.9%), 79.3% in India (2019: 91.3%), and 92.6% for Group (2019: 95.8%) • Enhanced and flexible benefits arrangements

Slide 21 Sumo Group plc ENVIRONMENTAL, SOCIAL AND GOVERNANCE

PLC Board approval 3-star accreditation Social element can of approach & in B’Heard have the greatest structure Engagement survey impact March 2020

First Streamlined Energy and Carbon IT security progress Sumo Digital Report in 2020 towards ISO 27001 Academy update Annual Reports and accreditation Accounts

Slide 22 Sumo Group plc

THE MARKET Increased digital production

The UK games More platforms & market is valued at delivery models £7bn in 2020 Backwards compatibility 30% increase on has resulted in 2019 figures smoothing of console life cycles

Increased demand for The global games high-quality creative market was valued at output $174.9bn in 2020 Sumo is well positioned to benefit from that increased demand $196bn in 2021

Source: Ukie/Newzoo Slide 23 Sumo Group plc STRATEGY AND THE NEXT 12 MONTHS

More great games Acquisitions Continued organic growth

• Client-IP • Services • New studios • Own-IP • Geographies • Accelerated organic growth • Secret Mode • Clients • Publishing • Publishers

Slide 24 APPENDICES

Slide 25 Appendices FINANCIAL CALENDAR

Publication of Annual Reports and Accounts May 2021

Annual General Meeting June 2021

Announcement of half-year results September 2021

Financial Year End 31 December 2021

Slide 26 Appendices THE TEAM

Carl Cavers Paul Porter David Wilton Co-Founder & Chief Executive Officer Co-Founder & Chief Operating Officer Chief Financial Officer

• Co-founded Sumo Digital in 2003 • Co-founded Sumo Digital in 2003 • Big Four qualified chartered accountant with c.30 years post-qualified • Over 20 years of industry experience • Over 25 years of industry experience experience as Finance Director, Non having previously been VP of having previously been Head of Core Executive Director and Consultant. Development at Infogrames Technology at Gremlin Interactive Previously worked in M&A with Rothschild

• 2015 recipient of the TIGA Most • Previously Managing Director of Sumo Outstanding Individual Award Digital • Experience of PLC and Private Equity roles including as Group Finance Director of WYG plc and as Non • Led secondary buy-out with Perwyn in • Appointed COO in April 2019 Executive Director and Chair of the 2016 Audit Committee of Sweett Group plc

• Appointed CFO in 2017

Slide 27 Appendices OUR COMPETITIVE ADVANTAGE

OUR PEOPLE: TECHNOLOGY MANAGEMENT SCALE GAME DEVELOPMENT SYSTEMS AND CREATIVE SERVICES

Enable us to offer flexible, end-to-end turnkey and co-development solutions for publishers and other developers.

Slide 28 Appendices THE SUMO BUSINESS MODEL

LOWER RISK CONTRACTING MODEL £

LONG-TERM CONTRACTS MILESTONE PAYMENTS

Deeply embedded with our clients due to knowledge of IP, or use of Sumo’s proprietary technology: often both!

Slide 29 THE SUMO CORE DEVELOPMENT REVENUE MODEL REVENUE DEVELOPMENTCORE THE SUMO Visibility of development fees with upside from back Appendices

Illustrative Project Contracted Development Fees Fees Development Contracted Revenue and cost profile (£’000) Pre & Concept 1,000 100 200 300 400 500 600 700 800 900 Sumo control production and delivery… and production control Sumo T0 T1 Revenue T2 - T3 Production – Development Fees (LHS) Fees Development T4 T5 T6 T7 – T8 Paid on a 4 a on Paid T9 T10 T11 Revenue T12 - 6 week development cycle based on milestones on based cycle development 6 week T13 – - DLC (LHS) DLC Production and Finalisation and Production end royalties T14 T15 T16 T17 T18 Revenue T19 T20 – Royalties (LHS) T21 T22

v T23 T24 … and share in upside on strategic projects strategic on upside in share … and T25 T26 T27 T28 Royalties T29 T30 Downloadable Content asDownloadable Games Content a Service& T31 T32 T33 T34 T35 T36 T37 T38 T39 T40 T41 T42 T43 T44 T45 Slide Slide 30 Appendices THREE TYPES OF CONTRACT

Own-IP – Game Original concept creation Contract type Game Development developed in partnership (Turn Key or Co-Dev) revenues with third party

Co-funded with or fully funded Publisher Sumo or third party Funding by partner

Publisher Publisher Sumo Control of IP (Sumo may retain legal ownership)

Game sale revenues or Milestones payments plus guaranteed royalty Milestones and royalties Payment model royalties as earned (if developed by a third party)

Development fees recognised using estimate of contract margin & Recognise revenue as earned or percentage of completion guaranteed royalties as contractual Development fees as for obligation triggered publisher funding Accounting Royalties earned subject to IFRS 15 recognition principles Capitalise development costs as Sumo investment expensed intangible asset with regular as incurred Development costs expensed impairment reviews (IAS 38) as incurred

Slide 31 Appendices ANALYSTS AND SHAREHOLDERS

The analysts who have published research on The shareholders who own Sumo: Sumo: Number of Significant shareholders % Holding shares Ross Broadfoot Patrick O’Donnell Perwyn Bidco (UK) II Limited 26,170,961 15.3% Mount Emei Investment (Tencent) 15,000,000 8.8% Bob Liao Benjamin May BlackRock Inc 14,395,963 8.4% Directors & related holdings 11,725,597 6.8%

James Lockyer Ken Rumph Lake Street Labs Topco, LLC 9,893,940 5.8% Swedbank Robur Fonder AB 9,028,477 5.3% Liontrust Investment Partners LLP 8,000,000 4.7% Katie Cousins Andy Bryant Premier Miton 7,584,602 4.4% Schroder Investment Management 6,500,000 3.8% Steve Robertson Natasha Brilliant Total number of shares in issue 170,757,758

Bridie Barrett Alasdair Young

Slide 32 Appendices SHARE BASED PAYMENTS

FY18 FY19 FY20 FY21 FY22 FY23 Management incentive schemes Actual Actual Actual Forecast Forecast Forecast £m £m £m £m £m £m Nil cost options at or after IPO 0.8 0.4 - - - -

LTIP awards 2.1 2.2 4.9 2.3 0.9 0.4

Share Incentive Plan 0.1 0.1 0.1 0.1 0.0 -

Total 3.0 2.7 5.0 2.4 0.9 0.4

• FY20 reflects vesting percentage for 2018 – 2020 LTIP. • Cost includes IFRS2 charge and NI cost before deferred tax credit. • Existing LTIP awards only.

Slide 33 THANK YOU