===== SIDA 1 ===== Q3 2025 Modern Times Group MTG AB 1 Exceptional 15% organic growth in Q3 with 23% adjusted EBITDA margin and on track to deliver on full-year outlook We delivered accelerated organic growth of 15% year over year in Q3 and 10% for the first nine months (9M) of 2025 with total revenues up 126% and 107% year over year in constant currencies for the two respective periods. Our organic growth in Q3 was driven by a very active and successful schedule of in-game content and events. RAID: Shadow Legends also had a very strong quarter of high single-digit growth. User acquisition spend (UA) in our original studios was up by 37% year over year in constant currencies in Q3 and 38% for the 9M period, as we continued to scale new games and drive momentum going into Q4. Our total UA spend represented 37% of our total revenues in both Q3 and for the 9M period. Total adjusted EBITDA was up by 73% year over year in Q3 and by 59% for the 9M period, with operating margins of 23% for both periods. We are therefore well-positioned to deliver on our raised 2025 outlook for organic sales growth of 7-9%, total group revenues of SEK 11.4-11.7 billion and a group operating margin of 21-24%. Financial highlights Q3 ■ Net sales increased by 108% to SEK 2,987 (1,438) million year over year and up 126% in constant currencies despite negative currency impact of -19%. Organic year over year growth was 15% ■ UA spend of SEK 1,112 (548) million corresponding to 37% (38%) of revenues, and up 37% year over year for our original studios in constant currencies ■ Adjusted EBITDA up by 73% year over year to SEK 675 (390) million with an adjusted EBITDA margin of 23% (27%). Adjustments of SEK 48 (25) million for M&A transaction costs and revaluation of put/call options, and SEK 37 (2) million for non-recurring bonus structures ■ Reported EBITDA of SEK 590 (363) million and EBIT of SEK 232 (213) million impacted by increased amortization levels of intangible assets arising from the acquisition of Plarium, primarily related to RAID: Shadow Legends ■ Net financial items of SEK -96 (50) million, driven by net interest amounted to SEK -82 (28) million and put/call options ■ Tax amounted to SEK -97 (-89) million ■ Total net income of 39 (174) million ■ Cash flow from operations of SEK 382 (347) million and unlevered cash conversion of 60% ■ Cash and cash equivalents at the end of the period amounted to SEK 1,221 (3,197) million with a net financial debt of SEK 3,095 (-3,038) million Financial highlights nine months ■ Net sales increased by 96% to SEK 8,456 (4,322) million and up 107% in constant currencies. Organic year over year growth of 10% ■ UA spend of SEK 3,125 (1,545) million corresponding to 37% (36%) of revenues ■ Adjusted EBITDA of SEK 1,931 (1,211) million with an adjusted EBITDA margin of 23% (28%) ■ Reported EBITDA of SEK 1,780 (1,159) million and EBIT of SEK 745 (731) million ■ Net financial items of SEK -312 (-393) million, of which SEK -175 (94) was net interest ■ Total net income of SEK 43 (32) million and total basic earnings per share of SEK 0.36 (0.27) ■ Cash flow from operations of SEK 884 (1,014) million and unlevered cash conversion of 46% for the 12-month period ended 30 September 2025 Financial overview (SEKm)Q32025Q3 20249M20259M2024FY2024Net sales2,987 1,438 8,456 4,322 6,015EBIT¹ 232213745731901EBITDA¹ 5903631,7801,1591,476Adjusted EBITDA6753901,9311,2111,666Net income391744332-210Cash flow from operations3823478841,0141,340Basic earnings per share (SEK)0.331.450.360.27-1.74Diluted earnings per share (SEK)0.331.450.360.26-1.74GrowthSales growth, %108%-4%96%1%3%FX Impact-19%-2%-12%0%0%Sales growth at constant FX126%-2%107%2%3%of which organic growth15%-9%10%-4%-1%¹ Reallocation of SEK 5 million put call option in Q3 2024 between operating profit and financial net ===== SIDA 2 ===== Q3 2025 Modern Times Group MTG AB 2 President & CEO’s comments Outstanding Q3 with exceptional organic growth I am very happy to deliver a strong Q3 with outstanding organic growth on the back of a very active, and successful, in-game event and content schedule, combined with strong performance from RAID: Shadow Legends. It is encouraging to see our organic growth coming from both recently launched new games and rapidly scaling games across our casual and midcore portfolios, as well as some of our largest established franchises. We have continued to expand our core games with key new features, while maintaining high volumes of live-ops combined with disciplined and scaled marketing. This was further supported by the very strong momentum we have been building in our original studios for the last five quarters. This enabled us to drive 15% organic year over year growth in Q3 and 10% for the first nine months of the year. We did this while maintaining our well-established focus on marketing discipline and cost control, enabling us to report operating margins of 23% in Q3 and 23% for the first nine months. Our organic growth continued to accelerate in Q3, which emphasizes the quality we have across our portfolio. On the casual side, PlaySimple delivered another quarter of double-digit growth. This was primarily driven by us finally being able to start fully scaling some of the new Word and adjacent Puzzle games that have previously been in early launch and finding more opportunities to scale our established word games, which supported our year over year growth. Thanks to this we have continued to increase our overall share of the extremely competitive causal games market, and I am very proud of the work our teams continue to deliver. Warhammer 40,000: Tacticus delivered another very strong quarter of double-digit growth. The game delivered record monthly revenue in September, thanks to a very successful three-year anniversary event combined with expanded content. F1 Clash had another stellar quarter, generating strong year over year growth on the back of the successful season reset in Q2, which expanded the game’s content and significantly improved player experience. This was further supported by easier comparative numbers for the game in Q3 last year. Heroes of History also continued to grow, driven by new in-game content including a highly successful one-year anniversary event and multiple in-game seasons. RAID: Shadow Legends delivered a very strong Q3 driven by successful live-ops and the launch of the Teenage Mutant Ninja Turtles IP tie-in. This latest IP partnership follows a number of very successful IP initiatives done over the last year, continuing to showcase the longevity and ongoing future potential of RAID. On a more general note, some of the ongoing changes to the digital competitive regulatory landscape in the US are providing our studios with opportunities to increase their focus on DTC revenues. This is an important part of our business and several of our games are today working on expanding the DTC offering to our players. Solid margins and optimized UA spend going into the end-of-year period We invested a total of SEK 1,112 million in user acquisition (UA) in Q3 and SEK 3,125 million in the first nine months of the year, corresponding to 37% of our total revenues for both periods. UA spend for our original studios was up by 37% year over year in Q3 in constant currencies, and up slightly from Q2 this year. We continued to maintain our proven UA discipline throughout Q3, focusing our marketing to areas where we saw the highest return. The year over year increase in organic UA spend was driven by a mix of investment in new fast scaling casual games, the racing mainstay F1 Clash, which continued to perform very strongly and Heroes of History, which was launched in Q3 last year. Our continued marketing investments in Q4 are setting the foundation for a successful 2026. As I have written in prior quarters of 2025, given the typically higher marketing costs in the key year-end period and our strong pace of UA scaling in the first nine months of the ===== SIDA 3 ===== Q3 2025 Modern Times Group MTG AB 3 year, we will continue to invest in our games where we see opportunities in Q4. We will, however, do so in a disciplined, balanced manner to optimize our UA spend. We reported adjusted EBITDA of SEK 675 million in Q3 and SEK 1,931 million for the first nine months of the year. Our operating margins levels of 23% in Q3 and 23% for the nine-month period once again primarily reflected our increased levels of organic UA spend. We reported unlevered cash conversion of 60% in Q3 and 46% for the 12-month period ended 30 September 2025. The lower cash conversion levels for the rolling 12- month period mainly reflected recent higher M&A costs and withholding tax payments in both Q2 and Q1. Evolving our operating model On 9th of October we had the pleasure to host a Capital Markets Day in Stockholm. During the day, we talked about how we are transforming MTG to create a better, faster and more agile gaming leader, including moving to a new structure with two Gaming Districts from the beginning of 2026. The purpose of our upcoming District model is to ensure that we can enable our current, and any future, studios, to make, scale and run great games. We will do this by preserving the creative integrity and cultures of our studios, while offering them the centralized tools, tech and infrastructure needed to drive growth. On the 9th of October we also announced a transformation program for our Midcore portfolio. This is a crucial part of the upcoming implementation of our Midcore District from the start of 2026. The purpose of this transformation is to create strong, effective and efficient central services, marrying the best of the tools and tech we have across the old MTG and Plarium, and future-proofing our business. This transformation is also expected to result in efficiency related savings for the group in excess of USD 20 million on an annualized run- rate basis by the end of 2026, coming from a combination of measures across headcount, technology, outsourcing, and facilities. Like everything we do, our transformation work is based on close and honest dialog across our organization. Our goal is to continue building a Gaming Village that respects and protects the unique cultures and talent we have in our studios, while providing them with the tools they need to succeed and grow. We need to make tough choices along the way, but our ambition is, as always, to come out stronger on the other side of these changes – for our people, our players and our shareholders. Evaluating structural opportunities for the Casual District Our Casual District will start as a party of one. Our ambition is to grow this part of our group over time so that we can leverage the impressive knowledge, technology and experience that we have in the PlaySimple team. We will accomplish this both through organic initiatives and accretive M&A. To potentially accelerate these ambitions, we announced that we are conducting an IPO preparedness study for PlaySimple. The outcome of this study will help us evaluate our options in 2026, and we will come back in due course once the study is concluded. It’s important to note that we have no plans to move below a majority ownership position in PlaySimple. New medium-term goals We have a clear strategy in place to drive sustainable growth. The strength, longevity and predictability of our evergreen titles deliver sustainable cash flows. This fuels our pipeline of new games in development as and enables the rapid scaling of recently launched titles – our rising stars. This growth flywheel, combined with our transformation initiatives, positions us well to continue delivering profitable growth and strong cash flows, and to create value over the medium and long term. We expect MTG to deliver annual gross revenue growth of 3-7% and to increase group adjusted EBITDA margin to over 24% over the next medium-term period. We also expect to deliver unlevered steady state cash conversion of over 60% over the medium-term. I am proud to see how far we have come since we distributed our broadcasting assets in 2019. We have transformed MTG again and again, acquiring exceptional gaming studios and divesting ESL Gaming. Today, we are the largest listed mobile-first gaming group in Europe. We have some of the best people in the industry in our Gaming Village, and the right games, tech, tools and scale to continue evolving MTG over the years to come. ===== SIDA 4 ===== Q3 2025 Modern Times Group MTG AB 4 Thank you for being on this journey with us, and I look forward to sharing more news when the time is right. Maria Redin Group President & CEO, Modern Times Group MTG AB Updated 2025 outlook MTG’s performance positions the group well to deliver on its updated full year outlook which was presented at the Capital Markets Day on the 9th of October. MTG raised organic revenue growth guidance to 7-9% from 3-7% and reiterated our original guidance for a group adjusted EBITDA operating margin of 21-24%. MTG also expanded outlook to include total full year revenues, which we expect to be between SEK 11.4-11.7 billion, reflecting the consolidation of Plarium from February this year. ===== SIDA 5 ===== Q3 2025 Modern Times Group MTG AB 5 Significant events February 12 – MTG announces that it has successfully closed the transaction to acquire 100% of Plarium Global Ltd., the developer behind the #1 global RPG RAID: Shadow Legends, signed on November 11, 2024. February 25 – MTG announces that Nick Hopkins has been appointed as the group’s Chief Financial Officer. Nick brings extensive skills and experience from over 15 years in investment banking, where he has covered and advised on a range of sectors including gaming, media, technology and consumer retail. Nick joined MTG in May. May 2 - Conclusion of MTG’s share buyback program that commenced on 17 May 2024. MTG has repurchased a total of 4,328,307 class B shares under the program, for a total value of SEK 400 million. May 15 - MTG’s Annual General Meeting (AGM) resolved on all proposals, including the adoption of income statements and balance sheets and treatment of MTG's result, and an incentive plan for 2025. October 1 – MTG announces plans for a new group structure to be implemented from January 2026. The group plans to transform its operations into a Midcore and a Casual District, to ensure that the studios in each can get the tools, tech and services that they need to drive growth. MTG also announced operational leadership changes and agenda for its Capital Markets Day (CMD) on 9 October. October 9 – MTG unveils key news ahead of CMD in Stockholm including:  Updated and expanded financial targets for the full year 2025 and updated medium-term financial targets  Transformation program and cost savings initiatives for the Midcore District  Intention to launch new SEK 400 million share buyback running until 15 May 2026  Evaluation of structural opportunities for the Casual District, which may include a public listing of PlaySimple in India  Video and presentations from the 2025 Capital Markets Day can be found here October 9 – MTG launches share buyback program of SEK 400 million. Further information about the group’s significant events can be found on MTG’s homepage on www.mtg.com ===== SIDA 6 ===== Q3 2025 Modern Times Group MTG AB 6 Group performance Net sales Net sales for the group grew by 15% organically year over year in Q3. Total net sales grew by 126% in constant currency, and by 108% in reported numbers year over year in Q3 to SEK 2,987 million. The organic increase of 15% was driven primarily by the scaling of our new casual games both in Word and Puzzle-adjacent genres, as well as scaling of Warhammer 40,000: Tacticus and Heroes of History and the continued success F1 Clash. The year over year growth in total net sales also reflected the consolidation of Plarium as well as strong performance of RAID: Shadow Legends in the quarter. We reported a negative -19% currency impact in Q3. This relates to the absolute impact from FX movements on our total business year over year, compared with our reported Q3 revenues in 2024. MTG’s revenues in Q3 this year include both our organic businesses and Plarium, and the effect is calculated relative to our reported revenues in Q3 2024, which exclude Plarium. The reported impact is therefore roughly double the underlying change in the US dollar currency rate year over year due to the relative scale of Plarium to MTG’s original business. Reported sales by franchise Plarium, which was consolidated from 1 February 2025, grew by low single digits year over year in Q3 on a comparable basis. The company’s overall performance in Q3 reflected high year over year single digit growth in RAID: Shadow Legends, which more than offset the decline in Plarium’s legacy games. RAID: Shadow Legends delivered a very strong Q3 driven by a well-received IP tie-in with Teenage Mutant Ninja Turtles (TMNT) and strong live-ops. The IP collaboration was a strong driver of engagement and further boosted the game’s visibility, which amplified the game’s marketing efficiency in Q3. RAID also held a Summer Celebration and two Fragment Summon events during the quarter. Word Games franchise revenues were up by 11% year over year in Q3 and 21% year over year in constant currencies. The scaling of new games within both Word and adjacent casual genres was the primary driver of the year over year growth in Q3. In addition, the team continued to roll-out new features across existing games to further drive engagement, including Word Search Explorer introducing social features, such as clubs and competitive group events, and Word Trip offering players increased personalization features. (SEKm)Q32025Q3 20249M20259M2024FY2024Net sales2,987 1,438 8,456 4,322 6,015Sales growth, %108% -4% 96% 1% 3%FX Impact-19%-2%-12%0%0%Sales growth at constant FX126% -2% 107% 2% 3%of which organic growth15% -9% 10% -4% -1% (SEKm)Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Plarium1,4311,4241,06600Word Games615598608671552Strategy & Simulation569530567674524Racing198184114135161Tower Defense8689108101120Other smaller franchises88859511281Total sales 2,987 2,911 2,557 1,693 1,438 ===== SIDA 7 ===== Q3 2025 Modern Times Group MTG AB 7 PlaySimple also continued to evolve soft launched games including Tile Match, Jigsaw, Crossword Go, Word Tour, Cryptogram and Two Square. Strategy & Simulation franchise revenues were up 9% year over year in Q3 and 11% year over year in constant currencies. Forge of Empire held three events in Q3 which included the second half of the summer event and the Care For Tomorrow and Fall events. The Q3 events did not deliver in line with our expectations and game revenues were down year over year. Heroes of History maintained its growth momentum and celebrated its one-year birthday with a dedicated anniversary season, which began at the end of the Q3. The game’s high live-ops tempo included two additional seasons, and three further events to drive player engagement. The team also released the Gothic Era, expanding the game’s content and progression depth. InnoGames also began leveraging Plarium’s distribution technology in September, when Heroes of History was soft launched on Plarium Play. Warhammer 40,000 Tacticus delivered another quarter of strong double-digit growth, with record monthly revenue achieved in September, driven by the three-year anniversary event that introduced a new faction and a Legendary character, and the launch of Mythic rarity, deepening the progression system in the game. The two additional events held during the quarter also supported the game’s growth. PC and Mac versions of Warhammer 40,000: Tacticus are now live with full cross-over play. These recent direct-to-consumer initiatives support the game’s long- term monetization potential and improve the profit mix through lower platform fees. Racing franchise revenues were up by 23% year over year in Q3 and by 30% in constant currencies. The strong momentum generated by F1 Clash during the season reset in Q2 continued during the summer and into the autumn. Hutch successfully harnessed the increased player interest around the launch of “F1 the movie”, which enabled increased marketing spend and drove DAU’s to the highest levels in three years outside a season reset. The team also started testing a new webstore, expanding direct-to-consumer monetization.Top Drives delivered strong revenue performance, boosted by the 4th of July and anniversary events. The team added new cars from MINI and BMW, introduced fresh gameplay mechanics, and launched a live social leaderboard to help players’ track their car collections. Matchcreek Motors expanded with new cars and over 400 additional levels, further strengthening engagement. Tower Defense franchise revenues were down -28% year over year in Q3 and –18% in constant currencies. The weaker revenue dynamics primarily reflected the continued decline in the active player base of Bloons TD 6. During the quarter, Ninja Kiwi released the milestone update 50 for Bloons TD 6, which introduced a new Hero, a map and additional gameplay features. Ninja Kiwi continues to work on the development of three new games. The action multiplayer title Fightland is currently expected to launch during Q4, with further new titles expected in Q1 and Q2 2026 respectively. 48%21%19%3%7%3%Sales by franchise, %PlariumWord GamesStrategy & SimulationTower DefenseRacingOther smaller franchises ===== SIDA 8 ===== Q3 2025 Modern Times Group MTG AB 8 New games in early scaling and soft launch Title/platform expansion Publisher Type Matchcreek Motors Hutch Early scaling Crossword Go PlaySimple Early scaling Cryptogram PlaySimple Early scaling Two Square: 2048 Numbers Merge PlaySimple Commercial launch Tile Match PlaySimple Commercial launch WordSearch Solitaire PlaySimple Soft launch Word Tour PlaySimple Early scaling Heroes of History InnoGames Early scaling Cozy Coast InnoGames Soft launch Fightland Ninja Kiwi New game launch TBA Ninja Kiwi New game launch Zombie Assault: Resurgence Ninja Kiwi New game launch Elf Islands Plarium Soft launch TBA Plarium New game launch TBA Plarium New game launch Key performance indicators Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024DAU, million8.9 9.0 9.0 6.3 6.1MAU, million42.843.441.630.528.3ARPDAU, SEK3.73.53.12.92.6Revenue generated by the top 3 games, %51%50%49%41%39%Revenue generated by platform, %Mobile69% 70% 69% 78% 77%Direct to consumer26% 24% 24% 19% 19%Other5%5%7%3%5%Revenue generated by territory, %Europe36% 34% 35% 34% 35%North America55% 55% 57% 60% 59%Asia Pacific8% 9% 6% 5% 5%Rest of World2% 2% 1% 1% 1%Revenue generated by monetization type, %IAP78%79%75%60%62%IAA20% 19% 21% 36% 32%Other2%2%4%4%6%UA spend, SEKm1,1121,054959677548 ===== SIDA 9 ===== Q3 2025 Modern Times Group MTG AB 9 Total daily active users (DAU) grew 45% year over year, which mainly reflected new players added in the Word Games franchise and the consolidation of Plarium. DAU declined slightly quarter over quarter, reflecting lower player levels in the Word Games, Strategy & Simulation and Tower Defense franchises, partly offset by higher levels in Plarium and the Racing franchises. ARPDAU grew 3% sequentially, supported primarily by strong performance from Snowprint. ARPDAU was up 43% year over year in Q3, mainly reflecting the consolidation of Plarium and the successful season reset of F1 Clash, partly offset by the continued broader geographic expansion in key Word games titles with lower ARPDAU. The group’s top three largest games in Q3 were RAID: Shadow Legends, Warhammer 40,000: Tacticus and Forge of Empires. The three games accounted for 51% of the groups revenues in the third quarter, compared to 50% in the second quarter. Prior to the consolidation of Plarium, the top three largest titles in Q3 2024 accounted for 39% of the group’s revenue. Mobile represented 69% (77%) of total revenues in the third quarter, while direct to consumer revenues, including browser, accounted for 26% (19%). The year over year increase in direct-to-consumer revenues primarily reflects the full consolidation of Plarium. Total user acquisition (UA) costs accounted for 37% of group revenues in both Q3 and for the year to date, compared to 38% in Q3 and 36% for the 9M period of 2024. UA spend for our original studios was up 37% year over year in constant currencies, driven by a mix of marketing investments in new games and scaling of games across casual and midcore. Total group UA spend was up 103% on a reported basis, and up 120% year over year in constant currencies in Q3, driven by the consolidation of Plarium. ===== SIDA 10 ===== Q3 2025 Modern Times Group MTG AB 10 Adjusted EBITDA, EBITDA and EBIT We reported a 73% increase in adjusted EBITDA to SEK 675 (390) million in Q3, with an operating margin of 23%. The increase in adjusted EBITDA primarily reflected the flow-through of the increase in net sales, offset by the continued strong UA spend in the quarter. The group’s adjustments to reported EBITDA amounted to SEK 86 (27) million in the quarter. These were split between M&A transaction costs of SEK 48 (25) million and adjustments for non-recurring bonus structures of SEK 37 (2) million. The adjustments for M&A transaction costs mainly reflected performance-based revaluation of put/call options related to the acquisition of Snowprint. The adjustment for non-recurring bonus structures reflected higher costs for a multi-year employee share-options program in PlaySimple which was acquired by MTG in 2021. The program of PlaySimple has no net cash impact on MTG over its lifetime, even though the accounting expense is recognized during the reporting period by PlaySimple. Depreciation and amortization amounted to SEK 358 (149) million and included amortization of purchase price allocations (PPA) of SEK 308 (101) million. The increased amortization levels arise from allocated surplus values related to RAID: Shadow Legends as well as other identified intangible assets following the consolidation of Plarium. Depreciation and amortization amounted to SEK 49 (49) million when excluding PPA. Consolidated EBIT was SEK 232 (213) million in the quarter, which corresponded to an EBIT margin of 8% (15%). Operating costs before depreciation and amortization increased by 123% year over year to SEK 2,398 (1,075) million. (SEKm)Q32025Q3 20249M20259M2024FY2024EBIT¹ 232213745731901Amortization342135965384516Depreciation1614704459EBITDA¹ 5903631,7801,1591,476Impairment own capitalized costs----8Non-recurring bonus structures372382124M&A transaction costs and revaluation of put/call options482511331158Adjusted EBITDA6753901,9311,211 1,666Adjusted EBITDA margin23%27%23%28%28%¹ Reallocation of SEK 5 million put call option in Q3 2024 between operating profit and financial net ===== SIDA 11 ===== Q3 2025 Modern Times Group MTG AB 11 Net financials Total net financial items amounted to SEK -96 (50) million in the quarter, of which net interest amounted to SEK -82 (28) million and other financial items amounted to SEK -14 (22) million. Other financial items included discounting and exchange rate effects on the revaluation of earnout liabilities of SEK -9 (28) million. In addition, other financial items included a SEK 63 (30) million revaluation of the financial liability related to the class C shares held by the group as the final payment part of the agreement to acquire PlaySimple. MTG holds these C shares as an off-balance sheet item, and a future transfer of shares to PlaySimple would therefore not result in a cash impact. The revaluation of the financial liability related to the C shares was impacted by the decrease in the price of the MTG B share during the third quarter. Other financial items also comprise exchange rate differences in the quarter, which amounted to SEK 1 (-31) million. In addition, the revaluation of put/call options amounted to SEK -48 (-5) million and other revaluation effects amounted to SEK -18 (-1) million. Taxes The group’s tax amounted to SEK -97 (-89) million in the quarter. The increase primarily reflected the consolidation of Plarium, partially offset by lower tax in InnoGames, PlaySimple and Ninja Kiwi. Venture capital fund investments The MTG VC fund has invested a total of SEK 397 (USD 40) million in a total of 26 companies to date. VC investments complement MTG’s majority stake investment in InnoGames, Hutch, Ninja Kiwi, PlaySimple, Snowprint and Plarium. The portfolio assets range from start-up game developers across several game genres and game creation platforms in the US and Europe to pure esports-focused companies. VC investments related to esports remained in MTG after the divestment of ESL Gaming. (SEKm)Q32025Q3 20249M20259M2024FY2024Net interest-8228-17594129Revaluation earnout effects-92896-474-690Revaluation PlaySimple debt (C-shares)6330-7942-68Revaluation purchase price -4--44--Put/call option¹ -48-5-38-5-111Exchange rate differences1-31-35-4435Other-18-1-35-5-14Total financial net¹ -96 50 -312 -393 -719¹ Reallocation of SEK 5 million put call option in Q3 2024 between operating profit and financial net ===== SIDA 12 ===== Q3 2025 Modern Times Group MTG AB 12 Financial review Cash flow Cash flow from operations Total cash flow from operations amounted to SEK 382 (347) million in the quarter. The group’s paid tax amounted to SEK - 170 (-158) million in the quarter. The group reported changes in working capital of SEK 2 (84) million in the quarter, the year over year change is mainly due to timing differences and movements in accounts payable and accounts receivable in the comparative quarter. Cash flow from investing activities Total cash flow from investing activities amounted to SEK -244 (-26) million in the quarter. This mainly consisted of put/call amounting to SEK -192 (-) million for Snowprint. Investing activities also included capital expenditure on tangible and intangible assets amounting to SEK -51 (-12) million, primarily comprising capitalized development costs for games and platforms. In addition, other investments amounted to SEK -1 (-14) million, including an issued convertible loan. Cash flow from financing activities Total cash flow from financing activities amounted to SEK -129 (-151) million in the quarter. This mainly consisted of the first amortization of external loans amounting to SEK -94 (-) million and the group’s leasing payments. The net change in cash and cash equivalents amounted to SEK 10 (170) million in the quarter and the group had a total cash and cash equivalents of SEK 1,221 (3,197) million at the end of the period. Net debt Net financial debt refers to the sum of interest-bearing liabilities, less cash and cash equivalents. Net financial debt as of September 30, 2025, amounted to SEK 3,095 (-3,038) million. The net financial debt calculation included external financing of SEK 4,052 million (0), lease liabilities of SEK 263 (158) million, less SEK 1,221 (3,197) million in cash and cash equivalents. The financial leverage ratio amounted to 1.15x based on the 12-month period EBITDA including Plarium. Total net debt as of September 30 amounted to SEK 4,411 (-1,476) million. Total net debt comprised interest-bearing liabilities of SEK 4,316 (158) million, earn-out liabilities of SEK 1,128 (1,393) million and put/call options of SEK 188 (170) million, less cash and cash equivalents of SEK 1,221 (3,197) million. The leverage ratio amounted to 1.64x based on the 12-month period EBITDA including Plarium. (SEKm)Q32025Q3 20249M20259M2024FY2024Cash flow from operations beforechanges in tax and working capital550 421 1,592 1,222 1,599Taxes paid-170 -158 -619 -371 -522Changes in working capital2 84 -89 162 264Cash flow from operations382 347 884 1,014 1,340Cash flow from investing activities-244 -26 -7,433 -509 -551Cash flow from financing activities-129 -151 4,467 -269 -388Total net change in cash and cash equivalents10 170 -2,082 236 401Cash and cash equivalents at the beginning of the period1,2303,1443,5432,9562,956Translation differences in cash and cash equivalents-19-117-2393186Cash and cash equivalents at end of the period1,2213,1971,2213,1973,543 ===== SIDA 13 ===== Q3 2025 Modern Times Group MTG AB 13 Parent company Modern Times Group MTG AB is the group's parent company and is responsible for group-wide management, administration, and financing. Net interest and other financial items for the quarter amounted to SEK -1 (-19) million. Net interest amounted to SEK -1 (20) million. Unrealized and realized exchange rate differences amounted to SEK 0 (-38) million and other financial items to SEK 0 (-1) million. The parent company had cash and cash equivalents of SEK 231 (1,207) million at the end of the period. The total number of shares outstanding at the end of the period was 117,114,942 (119,599,202), excluding the 6,194,343 Class C shares held by MTG as treasury shares. (SEKm)Q32025Q3 20249M20259M2024FY2024Net sales 181553 44 59Net interest and other financial items-1-1914273157Income before tax and appropriations-37-54-36-39-1 ===== SIDA 14 ===== Q3 2025 Modern Times Group MTG AB 14 Other information Accounting policies This interim report has been prepared according to ‘IAS 34 Interim Financial Reporting’ and the ‘Swedish Annual Accounts Act’. The interim report for the parent company has been prepared according to the Swedish Annual Accounts Act – Chapter 9 ‘Interim Report’. The group's consolidated accounts and the parent company’s accounts have been prepared according to the same accounting policies and calculation methods as were applied in the preparation of the 2024 Annual Report. Disclosures in accordance with IAS 34.16A appear in the financial statements and the accompanying notes as well as in other parts of the interim report. Related party transactions No transactions between MTG and related parties that have materially affected the Group’s position and earnings took place during the period. Risks and uncertainties Significant risks and uncertainties exist for the group and the parent company. These factors include the prevailing economic and business environments; commercial risks related to expansion into new territories; other political and legislative risks related to changes in rules and regulations in the various territories in which the group operates; exposure to foreign exchange rate movements, and the US dollar and euro-linked currencies in particular; the emergence of new technologies and competitors; and cyber-attacks. The group’s game development businesses depend on their ability to continue releasing successful titles that attract paying customers, conditions that are not under the group’s full control. Risks and uncertainties are also described in more detail in the 2024 Annual Report, which is available at www.mtg.com. Stockholm, 13 November 2025 Maria Redin Group President & CEO, Modern Times Group MTG AB ===== SIDA 15 ===== Q3 2025 Modern Times Group MTG AB 15 Auditor’s report To the Board of directors in Modern Times Group MTG AB (publ), corporate identity number 556309-9158 Introduction We have conducted a limited review of the condensed interim financial information (interim report) for Modern Times Group MTG AB (publ) (“the Parent Company”) and its subsidiaries (together “the Group”) as of September 30, 2025, and the nine-month period ended on that date. The board of directors and the CEO are responsible for preparing and presenting this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our limited review. The focus and scope of the limited review We have conducted our limited review in accordance with the International Standard on Review Engagements ISRE 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity." A limited review consists of making inquiries, primarily of persons responsible for financial and accounting matters, performing analytical procedures, and other review procedures. A limited review has a different focus and a significantly smaller scope compared to the focus and scope of an audit conducted in accordance with ISA and generally accepted auditing standards. The review procedures taken in a limited review do not enable us to obtain the assurance that we would become aware of all significant matters that might have been identified in an audit. Therefore, the conclusion expressed based on a limited review does not have the assurance that a conclusion expressed based on an audit has. Conclusion Based on our limited review, nothing has come to our attention that causes us to believe that the interim report is not, in all material respects, prepared for the group in accordance with IAS 34 and the Annual Accounts Act and for the parent company in accordance with the Annual Accounts Act. Stockholm, 13 November 2025 Öhrlings PricewaterhouseCoopers AB Nicklas Kullberg Authorized Public Accountant This is a translation of the Swedish language original. In the event of any differences between this translation and the Swedish language original, the latter shall prevail. ===== SIDA 16 ===== Q3 2025 Modern Times Group MTG AB 16 Condensed consolidated income statement Condensed statement of comprehensive income (SEKm)Q32025Q3 20249M20259M2024FY2024Net sales2,9871,4388,4564,3226,015Cost of goods and services-1,254-374-2,937-1,137-1,554Gross income1,7331,0645,5183,1854,462Selling expenses-1,192-563-3,474-1,612-2,302Administrative expenses-297-290-1,295-848-1,275Other operating income348782137Other operating expenses-46-6-81-15-21EBIT¹ 232213745731901Net interest-8228-17594129Other financial items¹ -1422-136-487-847Income before tax136264433337182Tax-97-89-391-305-392Total net income for the period391744332-210Net income for the period attributable to:Equity holders of the parent391744332-210Non-controlling interest-----Net income for the period391744332-210Basic earnings per share, SEK0.331.450.360.27-1.74Diluted earnings per share, SEK0.331.450.360.26-1.74Number of sharesShares outstanding at the end of the period117,114,942119,599,202117,401,194119,599,202118,306,464Basic average number of shares outstanding117,114,942120,163,768117,401,194121,044,035120,500,977Diluted average number of shares outstanding117,114,942120,444,647117,401,194121,383,251121,137,914¹ Reallocation of SEK 5 million put call option in Q3 2024 between operating profit and financial net(SEKm)Q32025Q3 20249M20259M2024FY2024Net income391744332 -210Other comprehensive incomeItems that are or may be reclassified to profit or loss, net of tax:Currency translation differences-347-290-1,687200592Items that cannot be transferred to profit or loss, net of tax:Fair value change of equity instruments-47-22-726-22-55Total comprehensive income-354-137-2,370211327Total comprehensive income attributable to:Equity holders of the parent-354-137-2,370211327 ===== SIDA 17 ===== Q3 2025 Modern Times Group MTG AB 17 Condensed consolidated balance sheet (SEKm)Sep 30 2025Sep 30 2024Dec 31 2024Non-current assetsGoodwill 10,98910,06710,383Other intangible assets5,5791,8431,761Total intangible assets16,567 11,910 12,145Total tangible assets126 27 28Right of use assets254 156 150Shares and participations in associated and other companies4731,2851,289Other financial receivables208 101 124Total non-current financial assets681 1,386 1,412Total non-current assets17,628 13,479 13,735Current assetsOther receivables1,357665790Cash and cash equivalents1,2213,1973,543Total current assets2,5783,8624,333Total assets20,20617,34118,068EquityShareholders’ equity11,21113,72213,736Total equity11,211 13,722 13,736Non-current liabilitiesLiabilities to financial institutions3,662--Lease liabilities210122115Total non-current interest-bearing liabilities3,872 122 115Provisions966501422Contingent consideration111524670Other non-interest-bearing liabilities53113184Total non-current non-interest-bearing liabilities1,130 1,139 1,276Total non-current liabilities5,002 1,260 1,391Current liabilitiesContingent consideration1,0178691,004Liabilities to financial institutions 377 - -Lease liabilities533636Other non-interest-bearing liabilities 2,5461,4541,902Total current liabilities3,993 2,359 2,941Total liabilities8,9953,6194,332Total shareholders’ equity and liabilities20,20617,34118,068 ===== SIDA 18 ===== Q3 2025 Modern Times Group MTG AB 18 Condensed consolidated statement of cash flows Condensed consolidated statement of changes in equity (SEKm)Q32025Q3 20249M20259M2024FY2024Income before tax136 264 433 337 182Adjustment for items not included in cash flow4141581,1598851,417Taxes paid-170-158-619-371-522Changes in working capital284-89162264Cash flow from operations382 347 884 1,014 1,340Investments/divestments in deposits - - - 114 114Acquisition / sale of subsidiaries, associates and other investments -192 -14 -6,194 -42 -46Earnout payments - - -1,074 -521 -521Investments in other non-current assets-52 -12 -165 -59 -98Cash flow from investing activities-244 -26 -7,433 -509 -551Repurchase of shares--96-152-194-304Loan-109 - 4,698 - -Share swap regarding share incentive programs--47-39-47-47Other cash flow from/used in financing activities-20-9-41-28-38Cash flow from financing activities-129 -151 4,467 -269 -388Total net change in cash and cash equivalents10 170 -2,082 236 401Cash and cash equivalents at the beginning of the period1,2303,1443,5432,9562,956Translation differences in cash and cash equivalents-19-117-2393186Cash and cash equivalents at end of the period1,2213,1971,2213,1973,543(SEKm)Sep 30 2025Sep 30 2024Dec 31 2024Opening balance13,73613,71413,714Net income for the period4332-210Other comprehensive income for the period-2,412179536Total comprehensive income for the period-2,370211327Effect of employee share programs353745Share swap regarding share-based incentive program-39-47-47Repurchase of shares-153-194-304Closing balance11,21113,72113,736 ===== SIDA 19 ===== Q3 2025 Modern Times Group MTG AB 19 Parent company condensed income statement Net income for the period is in line with total comprehensive income for the parent company. Parent company condensed balance sheet (SEKm)Q32025Q3 20249M20259M2024FY2024Net sales 18 15 53 4459Gross income1815534459Administrative expenses-55-50-233-156-217Operating income-36 -35 -180 -112 -158Net interest and other financial items-1-1914273157Income before tax and appropriations -37-54-36-39-1Appropriations 0 - 0 - -217Net income for the period -37 -54 -36 -39 -218(SEKm)Sep 30 2025Sep 30 2024Dec 31 2024Non-current assetsMachinery and equipment111Shares and participations15,23113,82113,821Other financial receivables221014Total non-current assets15,25413,83213,836Current assetsCurrent receivables67297122Cash and cash equivalents2311,2071,344Total current assets2981,5031,466Total assets15,55215,33615,302Shareholders’ equityRestricted equity617642642Non-restricted equity14,17614,62314,343Total equity14,79215,26514,984Untaxed reserves-9-Non-current liabilitiesNon-interest-bearing liabilities111011Total non-current liabilities111011Current liabilitiesNon-interest-bearing liabilities74951307Total current liabilities74951307Total shareholders’ equity and liabilities15,55215,33615,302 ===== SIDA 20 ===== Q3 2025 Modern Times Group MTG AB 20 Financial instruments at fair value The carrying amounts are considered to be reasonable approximations of fair value for all financial assets and liabilities, except shares and participations in other companies and contingent considerations for which the valuation technique is described below. Valuation techniques Shares and participations in other companies – acquisition cost is initially considered to be a representative estimate of fair value. Subsequently, values are remeasured at fair value and gains/losses recognized when there is subsequent financing through participation by a third-party investor, in which case the price per share in that financing is used, when there is a realized exit or when there are indications that cost is not representative of fair value and sufficient, more recent information is available to measure fair value. Listed holdings are valued at the current share price. Contingent consideration – expected future values are discounted to present value. The discount rate is risk-adjusted. The most critical parameters are estimated future revenue growth and future operating margin. (SEKm)Sep 30 2025Dec 31 2024Fair value Level 1 Level 2 Level 3¹Fair value Level 1 Level 2 Level 3¹Financial assets measured at fair valueShares and participations in other companies473--4731,287--1,287Financial liabilities measured at fair valueContingent consideration1,128--1,1281,674--1,674Other liabilties681681--601601--1) The amount of unrealised gains/losses in profit or loss is included in the financial net. (SEKm)Sep 30 2025Dec 31 2024Opening balance 1 January1,287397Reported gains and losses in net income for the period-268Reported gains and losses in OCI for the period-701-105Acquisition¹ 11908Dividend-10-Translation differences in income-6430Translation differences in OCI-2550Closing balance4731,2871) Purchase price for Kongregate merging with Monumental during 2024 amount to SEK 889 million(SEKm)Sep 30 2025Dec 31 2024Opening balance 1 January1,6741,439Exercised payments, cash-based-1,074-521Revaluation- 346Acquisition70766Interest expense136216Translation differences-315128Closing balance1,1281,674 ===== SIDA 21 ===== Q3 2025 Modern Times Group MTG AB 21 (SEKm) 2025 2026 2027 2028+ TotalCash consideration¹ - 1,017 - 111 1,128Total contingent consideration - 1,017 - 111 1,1281) The table published in MTG's quarterly report for Q1 2025 contained an error, by which SEK 275 million which should have been included in the 2026 total was erroneously included in the 2028+ total instead. The error has been corrected in the table above. ===== SIDA 22 ===== Q3 2025 Modern Times Group MTG AB 22 Alternative performance measures The purpose of alternative performance measures (APMs) is to facilitate the analysis of business performance and industry trends that cannot be directly derived from financial statements. MTG uses the following APMs: ■ Adjusted EBITDA ■ Change in net sales from organic growth Reconciliation of adjusted EBITDA Adjusted EBITDA is used to assess MTG’s underlying profitability. Adjusted EBITDA is defined as EBITDA adjusted for the effects of items affecting comparability, non-recurring bonus structures, acquisition-related transaction costs, revaluation of put/call options and impairment of capitalized internal work. Items affecting comparability refer to material items and events related to changes in the group’s structure or lines of business, which are relevant for understanding the group’s development on a like-for-like basis. During this year, the group changed its definition of adjusted EBITDA. The new definition of adjusted EBITDA also includes revaluation effects of put/call options. Reconciliation of sales growth Since the group generates the majority of its sales in currencies other than the reporting currency (i.e., SEK, Swedish krona) and currency rates have proven to be rather volatile, the group’s sales trends and performance are analyzed as changes in organic sales growth. This presents the increase or decrease in overall SEK net sales on a comparable basis, allowing for separate discussions of the impact of exchange rates, acquisitions, and divestments. The following table presents changes in organic sales growth as reconciled to the change in total reported net sales. (SEKm)Q32025Q3 20249M20259M2024FY2024EBIT¹ 232 213 745 731 901Amortization342135965384516Depreciation1614704459EBITDA¹ 590 363 1,780 1,159 1,476Impairment own capitalized costs - - - - 8Non-recurring bonus structures372382124M&A transaction costs and revaluation of put/call options4825 113 31158Adjusted EBITDA675390 1,931 1,2111,666¹ Reallocation of SEK 5 million put call option in Q3 2024 between operating profit and financial net(SEKm)Q32025Q3 20249M20259M2024FY2024GroupOrganic growth15%-9%10%-4%-1%Acquisition/divestments112%7%97%6%4%FX Impact-19%-2%-12%0%0%Reported growth108%-4%96%1% 3% ===== SIDA 23 ===== Q3 2025 Modern Times Group MTG AB 23 Business combinations Acquisitions in 2025 On November 11, 2024, Modern Times Group MTG AB (publ) ("MTG") signed an agreement to acquire 100% of the shares in Plarium Global Ltd ("Plarium"), a leading international game developer with a strong portfolio of successful games, including the popular mobile role-playing game RAID: Shadow Legends. The acquisition strengthens MTG's position in the mid-core mobile games segment and adds further expertise in live ops, monetization and marketing. The acquisition was completed on February 12, 2025. The total purchase price amounts to USD 659 million, of which USD 20 million will be paid as a deferred payment in 2026, initially valued at USD 20 million. In addition, the agreement includes performance-based earnouts of up to USD 200 million, based on future revenues, initially valued at USD 32 million. The acquisition is financed through a combination of existing cash and cash equivalents and secured external financing comprising a term loan with a maturity of 3+1 years, as well as a revolving credit facility, totaling USD 460 million. Preliminary purchase price allocations for the year Refers to acquisitions completed during the first quarter of 2025. Goodwill arising from the acquisition is mainly attributed to Plarium's future revenue generating capacity, expertise in game development and synergies within MTG's existing operations. None of the goodwill recognized is expected to be tax deductible. The amounts recognized for intangible assets, such as IP, direct-to-consumer platform and paying player relationships, have been measured at the discounted value of future cash flows. The amortization periods for the identified assets reflect the determinable useful lives. The impact of the business combination on the group's cash and cash equivalents amounted to SEK 5,988 million. Estimated transaction costs for the acquisition amounted to SEK 109 million. (SEKm) PlariumIntangible fixed assets5,525Other fixed assets279Other current assets660Cash and cash equivalents632Deferred tax receivables/liabilities net-780Other liabilities-1,085Acquired net assets5,231Goodwill1,944Purchase price including other non-paid considerations7,175Less cash and cash equivalents in acquried operation-632Additional purchase price and other settlements, non-paid-555Effect on consolidated cash and cash equivalents5,988Cash flow from business combinationCash payment-6,620Acquired cash and cash equivalents632Total effect on cash flow from investing activities-5,988Estimated transaction costs for acquisition (included in operating activities)-109Net outflow cash and cash equivalent-6,097 ===== SIDA 24 ===== Q3 2025 Modern Times Group MTG AB 24 Effect of acquisition on the group´s results The acquisition of Plarium was completed on February 12, 2025. The closing balance is based on the accounts as of January 31 and Plarium has been consolidated in MTG's accounts from this date. (SEKm)Sales 3,920Income before tax¹ 3531) Income before tax includes amortization of purchase price allocations of SEK 549 millionEffect of acquisition on the consolidated statement of Profit and Loss and Other Comprehensive IncomeGroup sales and income before taxes if the acquisition had occurred 1 January 2025(SEKm)Sales 9,014Income before tax¹ 3971) Income before tax includes amortization of purchase price allocations of SEK 938 million ===== SIDA 25 ===== Q3 2025 Modern Times Group MTG AB 25 Events after the end of the period There were no other events after the end of the reporting period. ===== SIDA 26 ===== Q3 2025 Modern Times Group MTG AB 26 Definitions Adjusted EBITDA EBITDA, adjusted for the effects of items affecting comparability, long-term incentive programs, acquisition-related transaction costs, revaluations of put/call options and impairment of own work capitalized, which are referred to as adjustments. Adjusted EBITDA margin Adjusted EBITDA compared to net revenues. Also referred to as “operating margin” in the text ARPDAU Average net revenue per daily active user. Capital expenditures (CAPEX) Capital expenditures is a financial investment made with the expectation of future revenues. Cash conversion Cash flow from operating activities including investments less realized exchange rate effects, as a percentage of adjusted EBITDA. Cash flow from operations Cash flow from operating activities shows changes in working capital including profit for the year adjusted for profit and loss items that have not affected changes in cash flow. DAU Daily active user. Earnings per share Earnings per share is expressed as net income attributable to equity holders of the parent divided by the average number of shares. EBITDA Profit for the period before other financial items, net interest, tax and depreciation and amortization. EBIT/Operating income Net income for the period before other financial items, net interest and tax. EBIT marginIAA In app advertising. IAP In app purchases. Interest-bearing liabilities Interest-bearing liabilities include external financing and lease liabilities. Items affecting comparability (IAC) Items affecting comparability refers to material items and events related to changes in the group’s structure or lines of business, which are relevant for understanding the group’s development on a comparable basis. Levered Cash Conversion (LCC) Cash flow from operating activities including net interest in cash flow, including investments less realized exchange rate effects, as a percentage of adjusted EBITDA MAU Monthly active user. Net financial debt Net financial debt refers to the sum of interest-bearing liabilities, less cash and cash equivalents. Net debt Net debt refers to the sum of interest-bearing liabilities, earn-out liabilities and put/call option liabilities less cash and cash equivalents. ===== SIDA 27 ===== Q3 2025 Modern Times Group MTG AB 27 Organic growth The change in net sales compared with the same period last year, excluding acquisitions and divestments and adjusted for currency effects. ROAS Return on ad spend. Transactional currency effect The effect that foreign exchange rate fluctuations can have on a completed transaction prior to settlement. This refers to the exchange rate, or currency risk associated specifically with the time delay between entering into a trade or contract and then settling it. Translational currency effect Converting one currency to another, often in the context of the financial results of foreign subsidiaries into the parent company’s and/or the group’s functional currency. UA User acquisition. Unlevered Cash Conversion (UCC) Cash flow from operating activities excluding net interest in cash flow, including investments less realized exchange rate effects, as a percentage of adjusted EBITDA. ===== SIDA 28 ===== Q3 2025 Modern Times Group MTG AB 28 Shareholder information MTG’s Annual General Meeting 2026 The Annual General Meeting will be held on 21 May 2026 in Stockholm. Shareholders wishing to have matters considered at the Annual General Meeting should submit their proposals in writing either by post to the “Company Secretary”, Modern Times Group MTG AB (publ), Annual General Meeting, P.O. Box 2094, SE-103 13 Stockholm, Sweden or by email to agm@mtg.com at least seven weeks before the Annual General Meeting in order for the proposal to be included in the notice to the meeting. Further details on how and when to register will be published in advance of the meeting. Nomination Committee ahead of the 2026 Annual General Meeting In accordance with the resolution by the Annual General Meeting of MTG shareholders regarding the procedure for the Nomination Committee, a Nomination Committee has been convened to prepare proposals for the 2026 Annual General Meeting. The Nomination Committee comprises:  Christian Rauda, appointed by EHM Holding GmbH  Klaus Roehrig, appointed by Active Ownership Corporation  Malin Björkmo, appointed by Handelsbanken Fonder AB and  Simon Duffy, the Chairman of the Board In line with past practice, the members of the Committee have appointed Christian Rauda, representing the largest shareholder on the last business day of August 2025, as the Committee Chairman. Please see the following section on MTG.com for information about the work of the Nomination Committee: https://www.mtg.com/governance/nomination-committee/ Shareholders wishing to propose candidates for election to the MTG Board of Directors should submit their proposals in writing to agm@mtg.com or to the “Company Secretary”, Modern Times Group MTG AB, Box 2094, SE-103 13 Stockholm, Sweden. Financial calendar Item Date Q4 and Full Year 2025 Financial Results report 5 February 2026 Q1 2026 Financial Results report 29 April 2026 Annual General Meeting 2026 21 May 2026 Q2 & 6 Months 2026 Financial Results report 21 July 2026 Q3 & 9 Months 2025 Financial Results report 11 November 2026 Questions? MTG Investor Relations Direct: +46 8 562 000 50, ir@mtg.com Follow us: mtg.com / LinkedIn Conference call MTG will host a livestream and conference call at 10.00 CET today, on 13 November 2025. The call will be held in English. ===== SIDA 29 ===== Q3 2025 Modern Times Group MTG AB 29 How to join: To participate via livestream, please use this link. To join via phone, please register using this link. After you’ve registered, you’ll receive the dial-in number and conference ID to access the teleconference. You can ask questions via phone during the teleconference or by using the livestream Q&A tool. ===== SIDA 30 ===== Q3 2025 Modern Times Group MTG AB 30 Modern Times Group MTG AB (publ) – Reg no: 556309-9158 – Phone: +46 (0) 8-562 000 50 MTG (Modern Times Group MTG AB (publ)) (www.mtg.com) is an international mobile gaming group that owns and operates gaming studios with popular global IPs across a wide range of casual and mid-core genres. The group is focused on accelerating portfolio company growth and supporting founders and entrepreneurs. MTG is an active driver of gaming industry consolidation and a strategic acquirer of gaming companies around the world. We are born in Sweden but have an international culture and global footprint. Our shares are listed on Nasdaq Stockholm (“MTGA” and “MTGB”). This information is information that Modern Times Group MTG AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 7:30 CET on November 13, 2025. This interim report contains statements concerning, among other things, MTG’s financial condition and results of operations that are forward-looking in nature. Such statements are not historical facts but, rather, represent MTG’s future expectations. MTG believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions; however, forward-looking statements involve inherent risks and uncertainties, and a number of important factors could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement. Such important factors include but may not be limited to MTG’s market position; growth in the gaming industry; and the effects of competition and other economic, business, competitive and/or regulatory factors affecting the business of MTG, its group companies and the gaming industry in general. Forward-looking statements apply only as of the date they were made, and, other than as required by applicable law, MTG undertakes no obligation to update any of them in the light of new information or future events.