Our Next Growth Phase

Capital markets day

December 9th, 2020 Tero Virtala Terhi Kauppi CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER

Mikaela Öberg Sam Lake HR DIRECTOR CREATIVE DIRECTOR

Christopher Schmitz Johannes Paloheimo CHIEF OPERATING OFFICER CHIEF COMMERCIAL OFFICER Our next growth Phase

Tero Virtala, CEO Category-defining, creative super-developer

• Creator of world-class gaming brands. • Developer of distinctive, benchmark-setting games. • Professional multi-project developer. • Ability to self-publish, and partner with publishers. • Highly attractive home to world-class talent. • Profitable growth company with managed risks. Expanding game brands & award-winning AAA console and PC games

Death Rally Max Payne Max Payne 2 Alan Wake Alan Wake’s Quantum Break Control American Nightmare 1996 2001 2003 2010 2016 2019 2012

OVER 250 INDUSTRY AWARDS AND ACCOLADES Games with

Immersive Memorable worlds stories Interesting Polished action characters gameplay The transformation 2. Scalability via multi-project model

2016 Talented developer working on one subcontracting project.

2017 New strategy: transformation to enable future growth.

3. Stronger position in the value chain 1. Games that stand out in the market and expand into long-term franchises During the past three years…

First phase of our growth strategy has been completed:

• Multi-project organization. • Invested into 3 own brands. • 4 game teams. • Strengthened creative, technology • 274 talents + external partners. and production skills.

• Developed Control in 3 years • Entered to growth path, profitably. and €30M budget. • Maintained a good work atmosphere! • Done two Crossfire projects. Games we are now working on

Two unannounced projects

WITH WITH WITH Global Games market

TOTAL MARKET North $159.3Bn +9.3% YoY America Europe, Middle $38.4Bn Asia-Pacific +8.3% YoY East & Africa $33.4Bn MARKET SHARES +7.1% YoY $71.6Bn +6.6% YoY

Latin PC Console America 24 % 30 % $5.5Bn Mobile +8.8% YoY 46 % Our focus on the market

CONSOLES & PC

PC Cloud / Subscription BIG SCREEN CORE GAMERS CORE PlayStation 4 Steam Xbox Cloud & Game Pass GAMES for 112M units Nintendo Epic Google Stadia GAMERS Switch Games Amazon Luna Xbox One 66M units Store PlayStation Now 48M units GOG.com Switch Cloud

2019 Global Games Market Shares per Segment CASUAL PLAYERS CASUAL 19% 36% 45%

Boxed Console Digital PC Digital MOBILE & TABLET

SOURCES: NEWZOO, SONY, VGCHARTZ MARKET CONTINUES TO GROW and CHANGE

New entrants Content Consolidation challenge existing continues accelerates platforms & stores to be king

PC & console games AAA games are (still) engage longer a hit-driven business Conclusions for remedy

We have a strong basis to build on.

Market has developed favourably to us.

We will aim for bigger opportunities. Long-term objectives

• To create several successful games, and at least one major hit game.

• To own at least three expanding game brands, all with long-term hit potential.

• To have capabilities to select the right commercial model for each game: self-finance, self-publish, or work with publishing partners.

• To be the most attractive gaming industry employer in Europe.

• To reach these objectives while having a profitable and growing business with well-managed risks. Strategic guidelines

…that we will follow to get to the objectives:

Build a portfolio of Create long-engaging Further strengthen recognized, growing games in immersive our position in the 1 game brands. 2 and expanding worlds. 3 value chain.

Iterate towards bigger games Empower creative, world-class with professional and scalable teams and people. 4 game productions. 5 Category-defining, creative super-developer