DOTVIOU DON’T NOD ENTERTAINMENT Public limited company (Société Anonyme) with share capital of €168,018.74 Registered office: Parc du Pont de Flandre “Le Beauvaisis” 11 rue de Cambrai, 75019 Paris Paris Trade and Companies Register no. 504 161 902 (the “Company”) MANAGEMENT REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2021

1._FIRSTHALF 2021 HIGHLIGHTS • Covid-19 update In view of the exceptional circumstances surrounding the coronavirus (Covid-19) health crisis and the ensuing government recommendations, DONTNOD has implemented a business continuity plan involving mass-scale teleworking arrangement. DONTNOD is striving to achieve optimum productivity in its production chains. However, as the duration of the Covid-19 health crisis is still unknown, release schedules in the video games industry could be adjusted depending on how the situation develops. Within the framework of government measures in France, in June 2020 the Company contracted a €3.6 million PGE state-guaranteed loan (“Prêt Garanti par l’Etat”). • Capital increase and business cooperation agreement with TENCENT On January 28, 2021, DONTNOD announced the success of its capital increase without shareholder preferential subscription rights (announced on January 27, 2021) through an accelerated bookbuilding process in favor of certain categories of beneficiaries, for a total of €50 million (the “Private Placement”). The Private Placement was significantly oversubscribed, which allowed the Company to increase the Offering amount from €40 million to €50 million. The subscription price for the new shares was set at €16 per share, representing a discount of 0.9% on the last closing price.

he “Private Placement”). The Private Placement was significantly oversubscribed, which allowed the Company to increase the Offering amount from €40 million to €50 million. The subscription price for the new shares was set at €16 per share, representing a discount of 0.9% on the last closing price. TENCENT Holdings Limited (“TENCENT”), a leading global online service provider and video game publisher, subscribed shares in an amount of €30 million, thereby strengthening DONTNOD’s shareholding structure. This partnership allows DONTNOD to bolster its positioning while stepping up its development plan focused on the selfpublishing model, besides expanding its catalog to include mobile platforms and Asian markets. Principal terms of the Offering: The capital increase was carried out without preferential subscription rights in order to target qualified French and international investors through an accelerated bookbuilding process (the “Private Placement”). A total of 3,125,000 new ordinary shares (the “New Shares”) with a par value of €0.02 each were issued to qualified investors within the meaning of Article 2(e) of EU Regulation 2017/1129 of June 14, 2017 in accordance with the 7^th resolution adopted by the Company’s Combined General Meeting of October 27, 2020, thereby increasing the share capital to €165,726.86. The New Shares, representing 37.7% of the Company’s share capital before the completion of the Private Placement, were issued following the decisions of the Chairman of the Board of Directors pursuant to and within the limits of the delegation of powers conferred by the Company’s General Meeting and the Board of Directors on January 27, 2021.

any’s share capital before the completion of the Private Placement, were issued following the decisions of the Chairman of the Board of Directors pursuant to and within the limits of the delegation of powers conferred by the Company’s General Meeting and the Board of Directors on January 27, 2021. The issue price of the new shares was set at €16 per share, representing a 0.9% discount on the DONTNOD share closing price on January 27, i.e. €16.15, and a 0.3% premium over the volume weighted average DONTNOD share price on the Euronext Growth Paris market for the last three trading sessions prior to the establishment of the issue FIRST HALF 2021 CONSOLIDATED FINANCIAL STATEMENTS 2

price (i.e. January 25, 26 and 27 inclusive), i.e. €15.95, in accordance with the 7^th resolution adopted by the Company’s Combined General Meeting of October 27, 2020. Settlement and delivery of the New Shares and their admission to trading on Euronext Growth Paris took place on February 1, 2021. The New Shares are subject to all statutory provisions and are fungible with existing shares upon final completion of the Capital Increase. They bear current dividend rights and are admitted to trading on the Euronext Growth Paris market on the same listing line as existing listed Company shares, under the same code ISIN: FR0013331212 - ALDNE. • Founders’ warrant (BSPCE) and bonus share (AGA) plans By decisions of the Board of Directors on February 4, 2021 in exercise of the authority granted under the 12^th and 13^th resolutions of the Combined General Meeting of October 27, 2020, the Company set up four plans: - A founders’ warrant allocation plan (BSPCE2021)¹ exercisable at the price of €18 between March 25, 2023 and March 25, 2025 resulting in the issuance of a maximum 28,055 new shares, subject to the beneficiary remaining on the Company’s payroll among other conditions; - A bonus share plan allocating 47,499 bonus shares¹ (AGA2021-1) subject to a vesting period ending no later than March 25, 2025, subject to the beneficiary remaining on the Company’s payroll among other conditions; - A founders’ warrant allocation plan (B

payroll among other conditions; - A bonus share plan allocating 47,499 bonus shares¹ (AGA2021-1) subject to a vesting period ending no later than March 25, 2025, subject to the beneficiary remaining on the Company’s payroll among other conditions; - A founders’ warrant allocation plan (BSPCE2021)² exercisable at the price of €18 as from January 25, 2024 resulting in the issuance of a maximum 208,250 new shares, subject to the beneficiary remaining on the Company’s payroll and the achievement of specific Company share price targets; - A bonus share plan allocating 131,750 bonus shares² (AGA2021-2) subject to a vesting period ending on January 15, 2024, subject to the beneficiary remaining on the Company’s payroll and the achievement of specific Company share price targets. In order to be allocated all the shares provided for under the last two plans listed, the target share price is set at €40 (this figure should not be considered as a share price target expressed by the Company). In total, if all new shares allocated under these four plans were issued, 415,554 new ordinary shares with a par value of €0.02 each would be issued representing 5% of the Company’s current share capital. • Capital increase by issuance of new shares under the 2019 bonus share plan By decision of the Board of Directors on March 26, 2021 in exercise of the authority granted under the 26^th resolution of the Combined General Meeting of March 30, 2018, the Company recorded the issuance of the first tranche of the bonus share plan following the expiry of the vesting period running until March 25, 2021.