Enad Global 7 FY2026 Q2 Earnings Release

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Investor Presentation
Q2 2026
2026/08/19

EG7 Q2 2026 INTERIM REPORT
2
Q2 2026 Key Performance Figures
Broad -based revenue growth with a step -change in profitability
NET REVENUE
474.6 MSEK
+25.3% YoY / +30.3% FX -adjusted
ADJUSTED EBITDA
99.4 MSEK
+165% YoY (vs 37.5 MSEK LY)
ADJ. EBITDA MARGIN
20.9 %
+11 points YoY (vs 9.9% LY)
NET PROFIT
46.0 MSEK
(Q2 25: 8.4 MSEK) +447% YoY
OPERATING CASH FLOW
120.5 MSEK
93.8 MSEK excl. working capital effect
EPS – DILUTED (SEK)
0.52
(Q2 25: 0.09) +SEK 0.43
Adjusted EBITDA excludes items affecting comparability. FX -adjusted growth stated in local currency.

EG7 Q2 2026 INTERIM REPORT
3
Broad – based growth and margin expansion
Every operating business grew Adjusted EBITDA year -over -year
FIRESHINE
+127.2%
Net Revenue Growth (local currency)
Net Revenue 159.7 (73.8) MSEK
Adj. EBITDA 52.5 (3.0) MSEK
Adj. EBITDA Margin 32.9% (4.1%)
• Far Far West release in April: over 1
million units in two weeks, 118.6 MSEK
Net Revenues
• Strong review scores; PC only, with
consoles planned for 2027
• Building a growing track record of high –
quality indie titles
BIG BLUE BUBBLE
+21.4%
Net Revenue Growth (local currency)
Net Revenue 70.9 (60.7) MSEK
Adj. EBITDA 35.4 (24.8) MSEK
Adj. EBITDA Margin 49.9% (40.9%)
• First year -over -year growth in five
quarters
• Driven by success with Clubbox feature
plus influencer collaborations
• T-Pain concert in April; Weird Al
Yankovic announced next
PIRANHA
+ 53 .3%
Net Revenue Growth (local currency)
Net Revenue 33.5 (22.9) MSEK
Adj. EBITDA 13.1 (12.5) MSEK
Adj. EBITDA Margin 39.2% (54.7%)
• Chaos Reign, the 8th MechWarrior 5:
Mercenaries DLC, shipped in the quarter
• Tracking closely to the previous DLC
• A proven, repeatable DLC release model
DAYBREAK
+0.3%
Net Revenue Growth (local currency)
Net Revenue 184.6 (189.9) MSEK
Adj. EBITDA 8.3 (2.4) MSEK
Adj. EBITDA Margin 4.5% (1.3%)
• Improved profitability on a stable top line
• Palia past 10 million lifetime players
• Royal Highlands update drove the best
month since acquisition
• Overall live -service portfolio performing
steadily
Growth rates in local currency unless stated; prior -year comparatives in brackets. Petrol was also profitable in the quarter — all business units were profitable in the quarter.

EG7 Q2 2026 INTERIM REPORT
4
Three releases driving the third quarter
Denshattack! and EverQuest Legends launched in July; Aliens: Fireteam Elite 2 follows on August 25
DENSHATTACK!
Fireshine • Released July 15
98%
“Overwhelmingly Positive” on Steam; Metacritic 88 on
PC
• Another high -quality title released by Fireshine
• Core Keeper (94%), Far Far West (96%) and now
Denshattack ! (98%)
• Over 100,000 units and 150,000+ unique Game
Pass players in two weeks
EVERQUEST LEGENDS
Daybreak • Released July 28
JUL 28
1.0 release, following the July 1 beta
• A more casual and solo -friendly version of
EverQuest
• Recapturing lapsed players returning to relive
the original experience
• Off to a solid start
• Live service title with plans for continuing
content and support
ALIENS: FIRETEAM ELITE 2
Releasing August 25
AUG 25
launch on PS5, Xbox, Steam and Epic
• Sequel to Aliens: Fireteam Elite (August 2021)
• Developed by Cold Iron Studios and published
by Daybreak
• Our largest premium release of 2026 — see
next slide
Unit and player figures are internal estimates covering the first two weeks after launch; review scores as of the date of thi s p resentation.

EG7 Q2 2026 INTERIM REPORT
5
Aliens: Fireteam Elite 2 launches August 25
Our largest premium release of 2026, built on a proven franchise and a proven predecessor
THE GAME
• Third -person action shooter set in
the iconic Aliens universe
• Licensed from 20th Century Studios
• Sequel to Aliens: Fireteam Elite,
released August 2021
HOW IT PLAYS
• Co -op multiplayer for up to four
players
• Crossplay across all platforms
• Built for repeat play and long -tail
engagement
PLATFORMS & PRICING
• PS5, Xbox Series X|S, Steam and
Epic on August 25
• Nintendo Switch 2 later this fall
• Base game $49.99; special edition
$69.99
Pricing in USD; regional pricing may vary. Switch 2 release timing subject to change.
THE STUDIO
• Developed by Cold Iron Studios,
published by Daybreak
• Asset purchase completed August
2026, approved at the AGM
• Brings IP, technology, contracts and
team in -house

Financial Discussion

QUARTERLY LTM
Net Revenue and Adjusted EBITDA
EG7 Q2 2026 INTERIM REPORT
7
(MSEK) (MSEK)
379
355
437
345
475
37
63 80 51
99
10%
18% 18% 15%
21%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0
50
100
150
200
250
300
350
400
450
500
2Q25 3Q25 4Q25 1Q26 2Q26
Net Revenue Adjusted EBITDA Adj EBITDA Margin
1813
1702 1626
1516
1612
342 303 254 231 293 19% 18% 16% 15% 18%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0
200
400
600
800
1 000
1 200
1 400
1 600
1 800
2 000
2Q25 3Q25 4Q25 1Q26 2Q26
Net Revenue Adjusted EBITDA Adj EBITDA Margin

QUARTERLY LTM
More predictable part of Net Revenue
EG7 Q2 2026 INTERIM REPORT
8
(MSEK) (MSEK)
297 311
346
314 325
379 355
437
345
475
78% 88%
79%
91%
68%
0% 2%
16%
13%
17%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0,0
50,0
100,0
150,0
200,0
250,0
300,0
350,0
400,0
450,0
500,0
2Q 25 3Q 25 4Q 25 1Q 26 2Q 26
1282 1258 1273 1268 1296
1813 1702 1626 1516 1612
71% 74%
78%
84% 80%
3% 5% 5%
8% 12%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
0
500
1000
1500
2000
2500
3000
2Q 25 3Q 25 4Q 25 1Q 26 2Q 26

DAYBREAK BIG BLUE BUBBLE
Net Revenue & Adj. EBITDA –
Daybreak & Big Blue Bubble
EG7 Q2 2026 INTERIM REPORT
9
(MSEK)
Q2 NET REVENUE CONTRIBUTION
Daybreak 185 39%
Big Blue Bubble 71 15%
Rest of the group 219 46%
Group Total 475 100%
Q2 ADJ EBITDA CONTRIBUTION
Daybreak 8 8%
Big Blue Bubble 35 36%
Rest of the group incl Holding 56 56%
Group Total 99 100%
(MSEK)
190 180 195 190 185
2
35 33 30
8
1%
19% 17% 16%
5% 0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0
50
100
150
200
250
2Q25 3Q25 4Q25 1Q26 2Q26
Net Revenue Adjusted EBITDA Adj EBITDA Margin
61
55 55
61
71
25 25 25 30
35
41% 46% 45% 49% 50%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0
10
20
30
40
50
60
70
80
2Q25 3Q25 4Q25 1Q26 2Q26
Net Revenue Adjusted EBITDA Adj EBITDA Margin

FIRESHINE PETROL
Net Revenue & Adj. EBITDA –
Fireshine & Petrol
EG7 Q2 2026 INTERIM REPORT
10
(MSEK)
Q2 NET REVENUE CONTRIBUTION
Fireshine 160 34%
Petrol 26 5%
Rest of the group 289 61%
Group Total 475 100%
Q2 ADJ EBITDA CONTRIBUTION
Fireshine 53 53%
Petrol 3 3%
Rest of the group incl Holding 44 44%
Group Total 99 100%
(MSEK)
74
59
126
45
160
3 1 16
-2
53
4% 2%
13%
-5%
33%
-20%
0%
20%
40%
60%
80%
100%
-20
0
20
40
60
80
100
120
140
160
180
2Q25 3Q25 4Q25 1Q26 2Q26
Net Revenue Adjusted EBITDA Adj EBITDA Margin
30 30
27 28 26
1 2
-4 -4
3 3% 5%
-14% -16%
10%
-40%
-20%
0%
20%
40%
60%
80%
100%
-10
-5
0
5
10
15
20
25
30
35
2Q25 3Q25 4Q25 1Q26 2Q26
Net Revenue Adjusted EBITDA Adj EBITDA Margin

Net Revenue & Adj. EBITDA –
Piranha
EG7 Q2 2026 INTERIM REPORT
11
PIRANHA
(MSEK)
Q2 NET REVENUE CONTRIBUTION
Piranha 33 7%
Rest of the group 442 93%
Group Total 475 100%
Q2 ADJ EBITDA CONTRIBUTION
Piranha 13 13%
Rest of the group incl Holding 86 87%
Group Total 99 100%
23
30
34
21
33
13
10 11 8
13
55%
33% 31%
39% 39%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0
5
10
15
20
25
30
35
40
2Q25 3Q25 4Q25 1Q26 2Q26
Net Revenue Adjusted EBITDA Adj EBITDA Margin

455
396 390
293
344
-78 -92 -61
-174
-64
-300
-200
-100
0
100
200
300
400
500
600
700
2Q25 3Q25 Q425 Q126 Q226
Cash Cash flow from investment activities
(MSEK)
Net Cash Position
EG7 Q2 2026 INTERIM REPORT
12
Cash Flow

Q2 YTD
Cash OB 293 390
Operation* 121 210
Investing** -64 -238
Financing*** -11 -27
Delta Cash

45 -55
Currency fluctuations in
liquidity
7 9
Cash CB 344 344
*Change in Working Capital
** Earnout settlement
** New growth investments
**Other publishing Fireshine
**Other Intangibles
**Other

27
–
-40
-13
-4
-7
70
-101
-88
-26
-14
-10
The net debt by the end of the quarter amounted to SEK 3.6 million consisting of a cash balance of SEK 344.2 million
and a financial debt of SEK 347.8 million.
SEK 350 million in senior unsecured floating rate bonds were placed in Q1 2025.
100 MSEK RCFunutilized
-101 MSEK earnout settlement
78.1 MSEK accrued royalty payment in Fireshine , to be settled in Q3 (Far Far West included)

Summary

EG7 Q2 2026 INTERIM REPORT
14
Key Takeaways
▸ A strong quarter on every headline measure
Net Revenue 474.6 MSEK (+25.3%, +30.3% FX -adjusted), Adjusted EBITDA 99.4 MSEK (+165%) and net profit 46.0 MSEK (+447%). Diluted EPS of SEK 0.52
versus SEK 0.09.
▸ Momentum across multiple business units
Net Revenue growth in local currency: Fireshine +127.2%, Piranha +53.3% and Big Blue Bubble +21.4%.
▸ Every business unit is now profitable and cash generating
Adjusted EBITDA margin expanded from 9.9% to 20.9%. Operating cash flow of 120.5 MSEK — 93.8 MSEK excluding working capital effe ct
▸ Fireshine successfully building a leading indie publishing business
Core Keeper, Shadows of Doubt, Far Far West and now Denshattack! — a track record that supports securing further quality indie t itles and builds long -tail
back catalogue cash flows.
▸ Q3 off to a busy start
Denshattack! (July 15) and EverQuest Legends (July 28) are live, My Singing Monsters marks its 14th anniversary with MSM Kara oke , and Aliens: Fireteam
Elite 2 is scheduled for August 25.
Statements regarding scheduled releases and planned activities are forward -looking; actual outcomes may differ.

Q&A