Investor presentation December 2020 Disclaimer In this strategic presentation, the terms "Atari“ and/or the "Company" mean Atari. The term "Group" means the group of companies belonging to the parent Company and all companies within its consolidation’s scope. This strategic presentation contains statements relating to ongoing or future projects, future financial and operating results and other statements about Atari’s managements’ future expectations, beliefs, goals, plans or prospects that are based on current expectations, estimates, forecasts and projections about Atari, as well as company’s future performance and the industries in which Atari operate will operate, in addition to managements’ assumptions. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements which are not statements of historical facts. These forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to assess. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. These risks and uncertainties are based upon a number of important factors including, among others: political and economic risks of our respective global operations; changes to existing regulations or technical standards; existing and future litigation; difficulties and costs in protecting intellectual property rights and exposure to infringement claims by others summarized in chapter 5 of the company’s annual financial report for the financial year ended March 31, 2020 available on the investor relations website of Atari at www.atari-investisseurs.fr. For a more complete list and description of such risks and uncertainties, refer to chapter 5 in Atari’s annual financial report. Except as required by the rules and regulations of the AMF, Atari disclaims any intention or obligation to update any forward-looking statements after the distribution of this document, whether as a result of new information, future events, developments, changes in assumptions or otherwise. Any investment in Atari shares which have a highly volatile stock price represents a significant risk. Investor presentation ô Dec. 20 2 Speakers Frédéric Philippe Manfred CHESNAIS MULARSKI MANTSCHEV C.E.O. C.F.O. Biz Dev / Strategy # Deputy-COO & CFO of the Atari Group from 2001 to # Chartered Accountant and Auditor # Former investment banker at UBS advising a number of 2004, CEO of Atari Interactive until 2007 # Previously Interim Manager, CFO in Lagardère Group video game clients # Came back in early 2013 as CEO & shareholder and Accounting Director for Sucres & Denrées Group # Over 10 years investment experience as portfolio manager # Strong experience in Executive production # Joined the Atari Group in 2014 and investment professional # Strong investment track record and capital markets expertise Experienced core team Michael Jean-Marcel Christophe ARZT NICOLAI COMPARIN C.O.O. Atari VCS C.O.O. Games C.O.O. Casino # Former SVP General Manager for Samsung’s World # Former Head of Walt Disney game development # 30 years experience in the game business Cyber Games studios world # Strong experience in project management (delivering # Strong experience in Entertainment # Strong experience across all platforms projects with Atari, EA, Ubisoft, Google, Microsoft…) # In charge of the Atari VCS # Strong knowledge of the brand # 100+ products published over the years (was with Atari from 2000 to 2007) Investor presentation ô Dec. 20 3 A cultural icon since 1972 Launched the video gaming industry as we know it MUCH MORE THAN # Revolutionized technology, media and game play VIDEOGAMES # Defined a generation socially and culturally ---- Hardware: Atari VCS --- Established a valuable and extensive franchise portfolio - Merchandising on a broad scale - # Top 10 franchises: historical revenue over $2 billion # Over 200 IPs with a rich history and iconic images -- Fashion, clothing,… -- ---- Online casinos ---- Benefits from an extensive loyal audience and brand recognition -- TV series & game shows -- # 80% consumer logo recognition --- Movies --- # 500,000,000 internet searches / year ---- Comic books ---- # 30,000,000 unique Atari.com visits # 1 out 3 Americans has bought an Atari game -- Theme Park -- # 2 out 5 Americans have played an Atari game --- Hotels --- … Investor presentation ô Dec. 20 4 5 A successful turnaround initiated in 2013 FY2013 > FY2020 Revenues and Current Operating Income, in millions of € ORGANIC GROWTH 25 24.0 2013- 2020 Revenue Current operating income 20.6 20 18.0 REVENUE CAGR 15.4 +53% 15 11.9 COI CAGR 10 +25% 7.6 5 1.2 3.3 2.3 3.1 2.9 New management conducted 1.4 1.9 0.6 0.9 0.2 a complete reboot of the 0 company, building up on the March 31, 2013 March 31, 2014 March 31, 2015 March 31, 2016 March 31, 2017 March 31, 2018 March 31, 2019 March 31, 2020 brand and IPs # Relaunched games business March 31, 2013 March 31, 2020 # Reshaped licensing business Shareholders equity €(34.9)m €28.5m # Expanded in new activities Net debt €(31.4)m €1.1m # Rebuild organization # Erased financial debt Investor presentation ô Dec. 20 6 A content production company maximizing the value of its brand and IPs 200 IP portfolio Effective digital marketing management FY 2019-2020 STRONG Efficient €24m (+16.5%) production and Experienced DIRECT Revenues ASSETS operations management team EXPLOITATION €9.8m (+32.1%) OR UNDER R&D expenses TO €4.2m (+14.5%) LICENSING Sales & Marketing Co-investments Audience overlap expenses MAXIMIZE are favored with /Marketing Synergies studios or third €2.9m (+15.2%) parties PROFITS Fixed costs are Operating income at the lowest Global digital levels and the distribution production is fully management implemented is externalized and deployed Investor presentation ô Dec. 20 7 A simple organization and solid, managing shareholders ATARI SA A full-time staff of 28 Ownership legal structure incl. 16 in the USA, 4 in France, 8 in Africa as of Dec. 10, 2020 LR interactive Owns the brand Holdings, LLC Games and licensing 16.64% 15.85% (Wade J. Rosen) 100% activities US incorporated Ker Ventures, LLC (Frédéric Casino regulated activities 8.17% 10.03% Chesnais) In Europe and Africa 100% US Licenses Alex Zyngier 1.28% 2.11% (Director) US incorporated Home entertainment 100% & multimedia device 73,.91% 72.53% US incorporated Public Investments in tech ventures (incl. 50% of Atari Chain Ltd 100% for Atari Token) Total number of shares: 278,089,392 French incorporated Total potential shares: 294,026,588 Legend: diluted participation Investor presentation ô Dec. 20 8 Atari Games Atari Games value chain Team IPs € Externalized Executive External Production Studios Digital Box Multimedia Licensing Distribution Distribution Investor presentation ô Dec. 20 10 Our DNA, with a diffenciated positioning Atari Games is a video game publisher Games FY2019-2020 operating mainly in mobile and digital, 39% of total Revenue partnering with selected studios and powerful distributors Atari Dontnod Focus Home Nacon Ubisoft Internal Studios - - - + + + ++ + + + Publishing + + + + + + + ++ + + + Physical Distribution - - - - - - + + + + + + + + + Digital Distribution + + + + + + + + + + + + + PC / Console + + + + + + + + + + Mobile F2P + + + - - - - - - - - - + + + Licensing / Merchandising + + + - - - - - - - - - + Investor presentation ô Dec. 20 11 Atari Games: current products 30million Release 2014 2016 2017 2018/19 2020 DOWNLOADS iOS / Platforms iOS/Android iOS / Android Switch, PC iOS / Android Android, PC Focus on mobile and social games Genre Sim Sim Sim Sim Match 3 Significant success with simulation games. RollerCoaster Tycoon license extension to 2022 Continued exploitation of the Atari Classics catalogue (i.e. Missile Release 2019 2020 2020 Capitazed R&D Command: Recharged) iOS / Android PS4, Xbox for games: Platforms iOS / Android New games under development, PC, Switch Switch, PC FY 2019-2020 : across multiple platforms, for near- Genre Sim Arcade RPG €6.2m term releases Investor presentation ô Dec. 20 12 Games: latest and upcoming releases Release 2020 2020 2020 2020 Platforms iOS/Android iOS / Android iOS / Android Facebook Genre Music Match 3 RPG Sim Idle Game Release FY 2020/21 FY 2020/21 FY 2020/21 FY 2020/21 Platforms iOS / Android iOS / Android iOS / Android iOS / Android Genre Sim Action Arcade Arcade Status Soft Launch Soft Launch Soft Launch Soft Launch Investor presentation ô Dec. 20 13 Atari Licensing & Casinos Entertainment devices Licensing Atari Arcade Powerful brand power Atari Flashback drawing global interest Miscellaneous goods Leveraging brand power across & clothing multiple channels with recurring revenues Multimedia Reinforcing global trademarks for Atari brand and IP library through integration with national and global brands Casinos Promoting and defending Licensing FY2019-2020 branded products: successful 52% of total Revenue litigations against infringements Hotels Investor presentation ô Dec. 20 15 Continuously growing product line-up c. 3,000,000 c. 125,000 Atari Flashback units sold since 2010 units sold since 2018 Atari Arcade SRP: US$35 to US$ 100 SRP: US$300 to US$500 Partner: ATGames Partner: Arcade1Up Investor presentation ô Dec. 20 16 Appealing to a wide and diverse audience TV show Movie Oct-Dec. 2017 March 2018 Movie October 2017 Investor presentation