Remedy Entertainment FY2026 Q1 Business Review

Remedy Entertainment Plc

May 5, 202 6
Business Review
JANUARY – MARCH 202 6

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 2 (20 )

Remedy Entertainment Plc | Stock exchange release | May 5, 202 6, at 09:00 a.m.
EE ST

Remedy Entertainment Plc | Business Review January –March 202 6

Remedy is focus ing on its core strengths, CONTROL Resonant
on track and marketing activity ramping up
Profitable quarte r, increased game sales and royalties
The Business Re view is unaudited. Figures in parentheses refer to the comparison
period in the previous year, unless otherwise stated.
Highlights from January –March 202 6
• Revenue de creased by -1.9% to EUR 1 3.1 (13.4) million.
• EBITDA was EUR 2.9 (2.6) million.
• Operating profit (EBIT) was EUR 1.0 (1.3) million, and the operating profit margin
was 7.8% ( 9.7%) of revenue.
• Cash flow from operations was EUR 8.3 (-6.6) million.
• In February 202 6, Jean -Charles Gaudechon was appointed as the CEO of Remedy
as of March 1, 2026.

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 3 (20 )

Key Figures
MEUR, IFRS, Group, unaudited 1–3/2026 1–3/2025 1–12/2025
Revenue 13.1 13.4 59.5
Growth in revenue, % -1.9% 24.1% 17 .5%
EBITDA 2.9 2.6 11 .3
EBITDA, % of revenue 22 .3% 19 .3% 19 .1%
Operating profit (EBIT) 1.0 1.3 -14.9
Operating profit, % of revenue 7.8% 9.7% -25 .0%
Result for review period 0.5 0.6 -13.0
Result for review period, % of revenue 3.6% 4.4% -21 .9%
Balance sheet total 86.1 97.4 87 .5
Cash flow from operations 8.3 -6.6 4.5
Net cash 15.9 12 .3 11 .1
Cash and liquid investments 34.0 28. 0 29 .4
Net gearing, % -27 .7% -17 .6% -19 .7%
Equity ratio, % 68. 6% 73.9% 67 .4%
Capital expenditures 3.3 3.8 14 .3
Average number of personnel during review period (FTE) 37 4 363 371
Headcount at the end of period 39 1 373 387
Earnings per share, € 0.04 0.04 -0.96
Earnings per share, € (diluted) 0.04 0.04 -0.96
Number of shares at the end of period 13,640,451 * 13,5 85,151 13, 640 ,451*
*Includes 50,000 treasury shares.

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 4 (20 )

Comments by CEO Jean -Charles Gaudechon
Remedy had a profitable first quarter of 2026 , ahead of marketing ramp up and related
spend to support the launch of CONTROL Resonant . Revenue was EUR 1 3.1 (13.4)
million, with a decrease of -1.9% from the comparison period. Revenue from game
sales and royalties increased , driven by royalties from Alan Wake 2, revenue from
FBC: Firebreak and the sales of Control which improved from the comparison period .
Development fees decreased but made over half of the total revenue in Q1.
Development fees were received from Max Payne 1&2 remake and CONTROL
Resonant . EBITDA improved to EUR 2.9 (2.6) million and operating profit (EBIT) was
EUR 1.0 (1.3) million.

More of what makes us Remedy
After assuming the role of CEO in March and getting to know the company and our
teams, my belief in Remedy’s vision and future only continues to be reinforced.

The gaming industry and market ha ve always been dynamic, now more volatile than
ever . As the industry searches for its footing, Remedy will double down on what makes
the studio unique: our creative identity, memorable IPs, and commitment to delivering
exceptional quality and originality.

We are more focused than ever on moving forward with franchise expansion, self –
publishing, and commercial discipline to improve our business performance. The studio
is in good shape to deliver on these pillars.

CONTROL Resonant
In the first quarter, we took numerous steps in the ambitious global marketing
campaign we have planned for CONTROL Resonant .

In February, a new gameplay trailer made its debut during PlayStation’s highly viewed
State of Play. In March, NVIDIA, Remedy’s longtime partner, released a new
CONTROL Resonant trailer . W e expanded beyond the trailers by showcas ing
exclusive content of CONTROL Resonant with the global press and content creators,
with positive overall sentiment. The first episode of the CONTROL Resonant developer
diary was also released for our community , continuing to build awareness ahead of the
launch.

While our core markets remain a priority, we also want more players around the world
to experience Remedy’s games . Remedy launched well -received social media
marketing in China to engage with the local community. We are working with local
partners on addressing the Chinese and other Asian market s. After the reporting
period, i n May, Remedy also made an exclusive appearance at Gamescom Latam in
São Paulo, Brazil , with key members of the team on the ground to connect with fans.

We remain committed to our goal of making the game a ‘must -have day -one purchase’
for the fans of Control and for gamers worldwide . A lot of interest was captured in
connection with our December 2025 announcement, and we expect the momentum to
intensify leading up to the launch. Leading indicators are on track for us to reach this

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 5 (20 )

goal. I play the game regularly ; the gameplay and overall feel are coming together, and
I am confident we have a strong product at hand.

Games in the market
Overall, our portfolio performed steadily in Q1 , the year -on -year uplift driven by
stronger publishing work on Control , royalties from Alan W ake 2 and revenue accruals
from FBC: Firebreak , which was launched in the second quarter of 2025.

Control retained solid sales momentum during Q1 and sold better than in the comparison
perio d, driven by promotions and added visibility from CONTROL Resonant. At attractive
price points, Control provides an easy entry -point for new players to get involved in the
CONTROL universe ahead of the sequel and expand s our addressable audiences .
Control has sold over 6 million lifetime copies.

Alan Wake 2 continued to earn royalties in the first quarter. Alan Wake 2 and Alan
Wake Remastered became available in Amazon’s Luna service, generating a platform –
deal royalt y. Other games of the Alan Wake franchise continued normal back –
catalogue sales.

FBC: Firebreak received its last Major Update ‘Open House’ in March, and the game
moved to maintenance mode. Friend’s Pass feature was introduced to serve our
community and to support the game’s player base . FBC: Firebreak will remain live and
playable . Up keeping the infrastructure will not incur significant costs for Remedy. FBC:
Firebreak remains available on both PlayStation Plus and Xbox Game Pass and is
available for purchase on the PC and console platforms it was released on.

Good start to an exciting year
Remedy has a pivotal year ahead, and we are off to a good start . Our first quarter was
profitable, our games on the market performed to our expectations and we’re making
steady progress with our development projects. Delivering a high -quality CONTROL
Resonant with a successful launch is our top priority and we are on track for our 2026
launch . Our marketing activities and related spend will significantly intensify prior to the
launch of the game.

Remedy has a strong portfolio of products with the potential to become larger, enduring
franchises . Fans in new geographies are finding our games , CONTROL Resonant
supports 8 audio languages , including e.g. Chinese and Brazilian Portuguese as new
additions , and is the most localized Remedy game to date . Self -publishing enables us
to direct the franchise strategy and marketing activities to our vision.

In a volatile and crowded market, Remedy’s signature approach to storytelling and
gameplay , our proprietary Northlight engine , the Remedy Connected Universe and a
unique voice in the industry make Remedy’s games stand out in a way that’s
impossible to replicate. In parallel, w e have a studio with world -class talent and a track
record in delivering multi -award -winning titles at structurally more efficient budgets
compared to many of our peers. The studio is right sized for the ambitions ahead of us,
and our focus now is on execution.

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 6 (20 )

Remedy’s DNA is a product of an ambitious creative culture that has been carefully
built over three decades. Protecting and reinforcing that culture and letting it compound
is ultimately how we create value and is a key priority for me as the CEO.
Games in development
Game Publisher Stage -gate status
CONTROL Resonant Remedy Entertainment Full production
New project Remedy Entertainment Proof of concept
Max Payne 1&2 remake Rockstar Games Full production
Outlook 202 6 (unchanged)
Remedy expects its full year revenue and EBITDA to increase from the previous year.
Long -term business prospects
We have two established own franchises, C ONTROL and Alan Wake, which are linked
through the Remedy Connected Universe. Remedy will self -publish upcoming games,
in which Remedy owns the IP. Growing and expanding the two franchises will be a key
part of our future. In addition, we work with a partner fra nchise Max Payne, originally
created by Remedy.

By 2030, we aim to be a highly regarded creative studio with sustainable, significant
commercial success. We have set ourselves the following financial targets:
1) Double the 2024 revenue by 2027 with continued growth beyond this milestone
and
2) EBITDA margin of 30% by 2027 and maintain that minimum level throughout
the strategy period.
Webcast
Remedy will host a webcast in English on its Q1 202 6 financial results for investors,
analysts and media on May 5, 202 6, at 12:00 p.m. (EE ST). Remedy’s financial results
will be presented by CEO Jean -Charles Gaudechon and CFO Santtu Kallionpää.

The Business Review will be available after publication on Remedy’s Investor website:
https://investors.remedygames.com/financials -and -reports/financial -reports/ .
Webcast details:
Register in advance for the webcast:
https://remedy.videosync.fi/q1 -2026/register

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 7 (20 )

After registering, you will receive a confirmation email containing information about
joining the webcast.

A recording of the webcast will be available afterwards on Remedy’s Investor website:
https://investors.remedygames.com/financials -and -reports/financial -reports/ .
More information
Aapo Kilpinen, Investor Relations & Business Development Manager
Phone: +358 44 522 0595
Email: aapo.kilpinen@remedygames.com
Remedy in brief
Remedy Entertainment Plc is a pioneering, globally renowned video game company
founded in 1995 and headquartered in Finland with an office in Stockholm, Sweden.
Known for its story -driven and visually stunning action games, Remedy has created
multiple succ essful, critically acclaimed franchises such as C ONTROL , Alan Wake and
Max Payne. Remedy also develops its own Northlight game engine and tools
technology that powers its games. Remedy’s shares are listed on Nasdaq Helsinki’s
main list.

www.remedygames.com

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 8 (20 )

Result from business operations

January –March 202 6
In January ‒March 202 6, Remedy’s revenue de creased by -1.9% in relation to the
comparison period, amounting to EUR 13.1 (13.4) million . Development fees were EUR
8.2 (10.7) million . Game sales and royalties increased to EUR 5.0 (2.6) million. For the
reporting period, t he main sources of revenue were development fees from Max Payne
1&2 remake and CONTROL Resonant as well as royalties from Alan Wake 2 . Control
game sales were on a higher level than in the comparison period. Perio d also included
game sales from FBC: F irebreak , mainly consisting of subscri ption service a greement
accruals.

In January ‒March 202 6, Remedy’s EBITDA improved to EUR 2.9 (2.6) million and
operating profit (EBIT) was EUR 1.0 (1.3) million. Materials and services expenses, at
EUR 1. 3 million, were 5 2.5% lower than in the comparison period , driven by lower
external development expenses in the game projects. Personnel expenses, at EUR 6.3
million, were 5.1% higher than in the comparison period. The personnel expenses
excluding capitalization increase d by 3%, which is in line with the growth of the average
number of personnel during the reporting period. Depreciation expenses were EUR 1.9
million, being EUR 0.6 million higher than in the comparison period , due to FBC:
Firebreak related depreciation . Other operating expenses , at EUR 2. 7 million, also
increased by 23.3% as the investments in self -publishing continued in Q1 2026 .

Cash flow and financial position

Cash flow

January –March 202 6
In January ‒March 202 6, Remedy’s net cash flow was EUR 4.7 ( -10 .3) million. Cash
flow from business operations amounted to EUR 8.3 (-6.6) million. The outgoing
payments related to operating expenses remained on a steady level from quarter to
quarter , while the incoming pay ment s during the reporting period were at a higher level
in relation to the comparison period. This was due to timing of incoming payments.

In January ‒March 202 6, Remedy’s cash flow from investing activities amounted to
EUR -3.2 (-3.4) million and cash flow from financing activities amounted to EUR -0.4
(-0.3) million. In the comparison period , the cash flow from inves ting activities
contained the final instalment to 505 Games EUR 3.2 million as well as liquidation of
cash management investments of EUR 3.0 million .

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 9 (20 )

Financial position
Remedy’s non -current assets on March 31, 202 6, totalled EUR 43 .9 (53.9) million. The
decrease in non -current assets from the compa rison period is largely due to the
impa irment of FBC: Firebreak in Q3 2025. Remedy has several projects whose product
development costs , as well as the publishing rights of C ONTROL franchise , are
capitalized according to IFRS standards. The total amount of capitalized product
development expenses was EUR 22.1 (29.3) million on March 31, 202 6. Currently, the
majority of the capitalized product development expenses are related to CONTROL
Resonant . Other intangible assets amounted to EUR 7. 6 (13. 4) million and comprised
of purchased CONTROL related publishing and distribution rights, of which the majority
are allocated to CONTROL Resonant. The company does not have any goodwill on its
balance sheet.

On March 31, 202 6, Remedy’s cash position was EUR 14.4 (10.7) million and other
current financial assets were EUR 19.6 (17 .3) million. Other current financial assets
include Remedy’s liquid cash management investments.

The company’s liabilities on March 31, 202 6, amounted to EUR 28 .5 (27 .6) million. The
amount contains EUR 1 4.9 million convertible loan liabilities and EUR 0. 3 million of
new interest accruals related to the agreement Remedy entered with Tencent in
September 2024.

Remedy’s balance sheet total on March 31, 202 6, was EUR 86.1 (97.4) million and
equity EUR 57.6 (69.8) million. The company’s equity ratio was 68 .6% ( 73.9%) and net
gearing -27 .7% ( -17 .6%).
Personnel, management and governance
The number of the company’s personnel (headcount) was 3 91 (373) at the end of the
period under review, with an annual growth of 4.8%. The average number of personnel
(FTE) was 374 (363) during the reporting period , growing 3.0%.

At the end of the period under review, the company’s Core Management Team
comprised CEO Jean -Charles Gaudechon , CFO Santtu Kallionpää, Chief Product
Officer Markus Mäki, Creative Director Sami Järvi, Creative Director Mikael Kasurinen,
Chief Commercial Officer Johannes Paloheimo and Chief Technology Officer Mika
Vehkala .

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 10 (20 )

Shares, shareholders and share -based incentive schemes
Remedy’s shares are traded in Nasdaq Helsinki with the trading code REMEDY. The
closing price of Remedy’s shares on the last trading day of the review period was 11.18
euros.

January –March
202 6
Highest share
price, €
Lowest
share price, €
Closing
share price, €
Volume -weighted
average price, €
Remedy 16.18 11.10 11.18 13.90

March 31,
202 6
March 31,
202 5
December 31,
202 5
Market capitalization, € 151 ,941,242 190 ,192 ,114 206 ,574 ,855
Number of shareholders 16,277 17, 251 16,365
Number of shares at the end of period 13, 640 ,451 13,5 85,151 13, 640 ,451
Number of shares outstanding at the end of
period 13,590,451 13,585,151 13,590,451
Average number of shares outstanding within
period 13, 590 ,451 13,5 85,151 13, 610 ,679
Average number of shares outstanding within
period, diluted (IFRS)* 13, 590 ,451 13, 640,442 13, 637 ,784
Average number of shares outstanding within
period, diluted 13,590 ,451 13,754,650 13, 680 ,971
Value of share turnover within period 5,918 ,320 6,714 ,398 27 ,742 ,810
Total number of traded shares within period 425 ,703 489 ,247 1,883 ,682
*Calculated according to International Financial Reporting Standards (IFRS) .

The company has one series of shares (ISIN: FI4000251897). The number of shares in
the company was 13,640,451 on March 31, 202 6, of which Remedy held 50 ,000
treasury shares. Excluding treasury shares , the number of shares at the end of period
was 13,590,451.

On April 10, 2025, the Annual General Meeting granted the Board of Directors an
authorisation to resolve on the issuance of new shares, treasury shares and option
rights or other special rights to shares in one or several instalments either against
payment or without payment so that the number of shares to be issued can be at
maximum 1,000,000. On March 31, 202 6, 650,000 shares are left to be issued under
the authorization of the Annual General Meeting on said date.

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 11 (20 )

Major shareholders on March 31, 202 6
Name Shares Percentage
1. Mäki Markus 3,197,000 23. 4
2. Järvi Sami 560,000 4.1
3. Virtala Tero 298 ,125 2.2
4. Lehtinen Saku 200,740 1.5
5. Evli Finnish Small Cap Fund 192 ,391 1.4
6. Sijoitusrahasto Aktia Capital 188 ,807 1.4
7. Varma Mutual Pension Insurance Company 150 ,000 1.1
8. Proprius Partners Micro Finland ( Non -Ucits) 149,7 50 1.1
9. Paloheimo Johannes 106 ,000 0.8
10 . Pulkkinen Janne 10 0,000 0.7
10 largest shareholders total 5,142 ,813 37. 7
Accendo Capital SICAV RAIF (nominee registered) 2,063,162 15. 1
Other nominee registered 2,588 ,332 19.0
Other shares 3,796 ,144 27.8
Treasury shares 50,000 0.4
Total 13, 640 ,451 100.0%

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 12 (20 )

Option plans
During the reporting period, Remedy has had six option plans directed to Remedy’s
key persons: Option Plan 20 20 , Option Plan 202 1, Option Plan 202 2, Option Plan
202 3, Option Plan 202 4 and Option Plan 2025 . The table below illustrates the key
information about the option plans. More information about the option plans can be
found on Remedy’s website at https://investors.remedygames.com/remuneration/ .

Key information about the option plans as of March 31, 202 6
Option
Plan
Maximum
number of
option rights
issued
Number of
allocated
option
rights
Number of
unexercised
option rights
Share subscription period Share
subscription
price, EUR
Option
Plan
2020
179,500 179,500 170,500 June 1, 2023 – May 31, 2026 22.21
Option
Plan
2021
270,000 270,000 270,000 June 1, 2024 – May 31, 2027 47.09
Option
Plan
2022
292,000 292,000 292,000 June 1, 2025 – May 31, 2028 26.64
Option
Plan
2023
350,000 306 ,000 306 ,000 June 1, 2026 – May 31, 2029 27.31
Option
Plan
2024
350,000 327 ,000 327 ,000 June 1, 2027 – May 31, 2030 19.76
Option
Plan
2025
350,000 334 ,000 334 ,000 June 1, 2028 – May 31, 2031 16.66

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 13 (20 )

Risks and uncertainties
The most substantial short -term risks and uncertainties are:

• Remedy’s game development efforts may fail if the company is unable to develop
its games within set mandates, such as release schedule, quality, and budget.
Additionally, the company’s games may not generate sufficient sales after their
release, even if we ll received and of high quality, thus generating less than
estimated game revenue for Remedy.
• Remedy has entered into long -term agreements with its partners related to game
projects in development and game sales. If the company failed to satisfy key
contract obligations, its partners could terminate their agreements with, or present
claims to, the company.
• Remedy is self -publishing its games based on fully owned IPs and is in this way
taking more financing risk in game development. In case the self -published games
are not successful and do not generate sufficient sales, Remedy carries the risk of
the games n ot becoming profitable.
• Remedy’s success depends significantly on its ability to hire, train, and retain skilled
personnel. If the company fails in these areas, it will be unable to effectively
conduct its business.
• Remedy’s business is subject to economic, market, and geopolitical conditions,
which are beyond its control. Possible significant fluctuations in currencies,
especially USD exchange rate, could have effects on Remedy’s profitability.

The above -mentioned risks might, if they materialize, have a significant negative
impact on Remedy’s business operations, result, financial position, outlook and share
price.

Events after the end of the reporting period
In April, Remedy summoned its shareholders to the company’s Annual General
Meeting , which will be held on May 21, 2026 , at the company’s office at Luomanportti
3, 02200 Espoo, Finland. Further information is available on the company’s website at
https://investors.remedygames.com/annual -general -meeting -2026/ .

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 14 (20 )

Tables

Consolidated statement of comprehensive income
EUR thousand 1–3/2026 1–3/2025 1–12/2025
REVENUE 13,141 13,398 59,510
Development fees 8,189 10,749 32 ,947
Game sales and royalties 4,952 2,648 26 ,562
Other operating income 65 0 0
Materials and services -1,22 8 -2,585 -12,240
Game development related materials and services -90 7 -2,453 -10,471
Revenue related partner expenses -32 1 -131 -1,76 9
Personnel expenses -6,341 -6,036 -24, 896
Depreciation , amortization and impairment -1,901 -1,288 -26,206
Other operating expenses -2,707 -2,195 -11 ,031
OPERATING PROFIT (LOSS) 1,029 1,294 -14,8 63
Financial income 13 266 1,150
Financial expenses -290 -461 -1,991
PROFIT (LOSS) BEFORE INCOME TAXES 752 1,099 -15 ,703
Income tax es -276 -509 2,673
PROFIT (LOSS) FOR THE FINANCIAL YEAR 476 590 -13,030
OTHER COMPREHENSIVE INCOME (EXPENSE)
Items that may be subsequently reclassified to profit or
loss 0 0 0
Total other comprehensive income (expense) for the
financial year 0 0 0
TOTAL COMPREHENSIVE INCOME (EXPENSE)
FOR THE FINANCIAL YEAR 476 590 -13,030
PROFIT (LOSS) FOR THE FINANCIAL YEAR
ATTRIBUTABLE TO OWNERS OF THE COMPANY 476 590 -13,030

EARNINGS PER SHARE
Basic earnings per share, euro 0.04 0.04 -0.96
Diluted earnings per share, euro 0.04 0.04 -0.96

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 15 (20 )

Consolidated statement of financial position
EUR thousand March 31, 202 6 March 31, 202 5 December 31, 202 5
ASSETS

NON -CURRENT ASSETS
Intangible assets 29,740 42 ,682 27 ,933
Tangible assets 2,240 3,127 2,369
Right -of-use assets 3,114 2,298 3,391
Non -current receivables 74 6 794 751
Deferred tax assets 8,015 5,040 8,308
TOTAL NON -CURRENT ASSETS 43,856 53,941 42 ,752

CURRENT ASSETS
Trade and other receivables 8,258 15,492 15 ,402
Current financial assets 19,636 17,265 19 ,754
Cash and cash equivalents 14,389 10 ,704 9,641
TOTAL CURRENT ASSETS 42,283 43,4 61 44,797

TOTAL ASSETS 86,139 97,402 87 ,548

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 16 (20 )

EUR thousand March 31, 202 6 March 31, 202 5 December 31, 202 5
EQUITY AND LIABILITIES

EQUITY
Share capital 80 80 80
Share premium 38 38 38
Invested non -restricted equity
reserve 58, 169 58, 363 58, 169
Retained earnings (losses) -1,147 10,714 11,337
Profit (loss) for the financial year 476 590 -13,030
TOTAL EQUITY 57,616 69,785 56 ,594

LIABILITIES

NON -CURRENT LIABILITIES
Convertible bonds 14,921 13,4 02 14,838
Lease liabilities 1,834 86 5 2,12 3
Accrued expenses 324 30 0 0
Deferred tax liabilities 136 143 196
TOTAL NON -CURRENT
LIABILITIES 17,215 14,710 17,157

CURRENT LIABILITIES
Lease liabilities 1,327 1,440 1,3 06
Trade and other payables 9,982 11,467 12,491
TOTAL CURRENT LIABILITIES 11,309 12,907 13,797

TOTAL LIABILITIES 28 ,524 27 ,617 30, 954

TOTAL EQUITY AND LIABILITIES 86,139 97 ,402 87 ,548

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 17 (20 )

Condensed consolidated statement of cash flow
EUR thousand 1–3/202 6 1–3/202 5 1–12/202 5
Cash flow from operati ng activities 8,319 -6,624 4,513
Cash flow from invest ing activities * -3,213 -3,396 -13 ,646
Cash flow from financing activities -357 -27 2 -2,222

Liquid assets – opening balance 9,641 20, 996 20, 996
Change in liquid assets 4,74 8 -10,292 -11, 356
Liquid assets – closing balance 14,389 10,704 9,641
*Includes capitalized development costs in January -March 202 6 EUR -3,031 (in January -March 202 5 EUR
-3,049 ) thousand .

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 18 (20 )

Consolidated statement of changes in equity
Changes in shareholders’
equity 1 –3/202 6
Share
capital
Share
premium
account
Invested
unrestricted
equity fund
Retained
earnings
SHARE –
HOLDERS’
EQUITY TOTAL
EUR thousand
Balance January 1, 202 6 80 38 58,169 -1,693 56 ,594
Comprehensive income
Profit (Loss) for the financial
year 476 476
Other comprehensive income
Total comprehensive
income 476 476
Transactions with owners
of the company
Share options granted 546 546
Total transactions with
owners 546 546
BALANCE
March 31, 202 6 80 38 58,169 -671 57,616

Changes in shareholders’
equity 1 –3/202 5
Share
capital
Share
premium
account
Invested
unrestricted
equity fund
Retained
earnings
SHARE –
HOLDERS’
EQUITY TOTAL
EUR thousand
Balance January 1, 202 5 80 38 58,344 10 ,065 68,527
Comprehensive income
Profit (Loss) for the financial
year 590 590
Other comprehensive income
Total comprehensive
income 590 590
Transactions with owners
of the company
Share options granted 649 649
Share issue and other share
subscriptions 18 18
Total transactions with
owners 18 649 667
BALANCE
March 31, 202 5 80 38 58, 363 11 ,305 69,785

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 19 (20 )

Notes to the Business Review January –March 202 6

Revenue breakdown per quarter
EUR thousand 1–3/202 6 10 –12/2025 7–9/2025 4–6/202 5 1–3/202 5
Development fees 8,189 8,687 6,115 7,396 10,749
Game sales and
royalties 4,952 8,354 6,041 9,519 2,648
Total 13,141 17,041 12,156 16,915 13,398

Changes in property, plant and equipment
EUR thousand
Machinery and
equipment
Other tangible
assets Total
202 6 202 5 202 6 202 5 202 6 202 5
Cost
Balance January 1 10 ,059 9,550 1,9 88 1,988 12,048 11,538
Additions 215 150 0 0 215 150
Balance March 31 10 ,274 9,700 1,9 88 1,988 12,262 11, 688

Accumulated depreciation and
impairment
Balance January 1 -7,708 -6,233 -1,971 -1,9 47 -9,679 -8,180
Depreciation -337 -375 -6 -6 -343 -381
Balance March 31 -8,045 -6,608 -1,9 77 -1,9 53 -10 ,022 -8,561

Carrying amount on January 1 2,351 3,316 17 41 2,369 3,357
Carrying amount on March 31 2,229 3,09 2 11 35 2,24 0 3,127

REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 20 (20 )

Changes in intangible assets
EUR thousand
Capitalized
development
costs Other intangible
assets Total
202 6 202 5 202 6 202 5 202 6 202 5
Cost
Balance January 1 56,988 46 ,026 16, 945 16,416 73 ,932 62 ,441
Additions 3,031 3,049 0 391 3,031 3,440
Balance March 31 60 ,019 49,075 16,945 16, 807 76,963 65,881

Accumulated amortization and
impairment
Balance January 1 -36 ,819 -19,197 -9,181 -3,430 -45 ,999 -22 ,626
Amortization -1,086 -573 -138 0 -1,224 -573
Balance March 31 -37,905 -19, 769 -9,319 -3,43 0 -47,223 -23,199

Carrying amount on January 1 20,169 26 ,829 7,764 12,986 27 ,933 39 ,815
Carrying amount on March 31 22 ,114 29,305 7,626 13,377 29,740 42 ,682

Calculation formulas used for the indicators
EBITDA: Operating profit (EBIT) + depreciation and amortization
Operating profit (EBIT): Profit (loss) before taxes and financial items
Operating profit, % of revenue: Operating profit (EBIT) / revenue
Net cash: Cash in hand and banks + liquid investments* – interest -bearing liabilities
Net gearing, %: (Interest -bearing liabilities – cash in hand and at banks – liquid
investments*) / shareholders’ equity
Equity ratio , % : Shareholders’ equity / (balance sheet total – advances received)
Capital Expenditures: Change in tangible and intangible assets added by
depreciation of these assets

*Liquid investments include Remedy’s liquid investments to equity funds. All of these investments are in
cash, money market, or fixed income instruments.

Espoo, May 5, 202 6
Remedy Entertainment Plc
Board of Directors

This is not an interim report as defined in IAS 34. Remedy follows the half -year reporting schedule
according to Finnish Securities Market Act and publishes business reviews off the first three and nine
months of the fiscal year. These business reviews wil l include the most essential information regarding the
company’s financial performance. The financial figures presented in this business review are unaudited.