13 September 2023 Frontier Developments plc FY23 Financial Results Frontier Developments plc (AIM: FDEV, ‘Frontier’, the ‘Company’, or the ‘Group’), a leading developer and publisher of video games based in Cambridge, UK, publishes its full-year results for the 12 months ended 31 May 2023 (‘FY23’). This announcement contains inside information. Financial Highlights FY23 FY22 (12 months to (12 months to 31 May 2023) 31 May 2022) Revenue £104.6m £114.0m EBITDA* £33.0m £41.1m Adjusted EBITDA** (£4.6m) £6.7m Operating (loss)/profit (£26.6m) £1.5m EPS (basic) (53.6p) 24.6p Cash balance at year end £28.3m £38.7m Revenue of £104.6 million (FY22: £114.0 million) was achieved through the ongoing performance of games which released in earlier financial years, sales from F1® Manager 2022 which released in August 2022, and modest contributions from new Foundry titles released during the period. Adjusted EBITDA** was a loss of £4.6 million (FY22: profit of £6.7 million), reflecting lower revenues achieved in FY23 versus the prior period and investment in titles for release in future years as Frontier gears up to deliver two new game releases per financial year from FY24 onwards. Operating profit in FY23 was negatively impacted by £28.7 million of non-cash intangible asset impairment and accelerated amortisation charges resulting from the closure of Foundry and a prudent re-assessment of the overall future performance of the F1® Manager franchise following lower than expected initial sales of F1® Manager 2023.

ly impacted by £28.7 million of non-cash intangible asset impairment and accelerated amortisation charges resulting from the closure of Foundry and a prudent re-assessment of the overall future performance of the F1® Manager franchise following lower than expected initial sales of F1® Manager 2023. The incremental non-cash charges resulted in an operating loss of £26.6 million in the period (FY22: profit of £1.5 million). Frontier continues to be well capitalised, with a cash balance at the end of FY23 (on 31 May 2023) of £28.3 million and £24.8 million as at the end of August 2023. The net cash outflow of £10.4 million in FY23 was after outflows of £10.9 million for the acquisition of Complex and £3.0 million for the purchase of shares in the Employee Benefit Trust. Cash would have grown in FY23 if the acquisition and share purchases are disregarded. *Earnings before interest, tax, depreciation, and amortisation. ** Adjusted EBITDA is earnings before interest, tax, depreciation, and amortisation charges related to game developments and Frontier’s game technology, less investments in game developments and Frontier’s game technology, and excluding impairment charges, share-based payment charges and other non-cash items. Operational & Strategic Highlights A thriving and growing game portfolio

rges related to game developments and Frontier’s game technology, less investments in game developments and Frontier’s game technology, and excluding impairment charges, share-based payment charges and other non-cash items. Operational & Strategic Highlights A thriving and growing game portfolio Frontier’s post-launch nurturing strategy delivered another strong performance in FY23, with games released before the start of the financial year delivering 72% of the total revenue in the period. Jurassic World Evolution 2, created in collaboration with Universal Products & Experiences and released in November 2021, was the biggest revenue contributor in the portfolio for FY23, benefitting from new content in the period including two major PDLC packs inspired by Universal Pictures and Amblin Entertainment’s Jurassic World franchise. In August 2022 Frontier further expanded its portfolio with the release of F1® Manager 2022, the first title in an annual series of Formula 1® management games, which sold over 800,000 units in FY23.

The second annual title in the Formula 1® series, F1® Manager 2023, released in July 2023 (in FY24). This second iteration of the series has achieved good reviews and a positive reception from players, although initial sales were lower than expected. Support for F1® Manager 2023 continues whilst plans for F1® Manager in 2024 are developed. In November 2023, Frontier’s first entry into the popular real-time strategy (RTS) genre will be released. Warhammer Age of Sigmar: Realms of Ruin, set within Games Workshop’s globally popular Warhammer IP, gives unique perspectives on the in-game action with unprecedented visual fidelity, and introduces an innovative control system to the proven gameplay mechanics of the genre, allowing console players to fully experience the RTS genre for the first time. Frontier has a strong position in the creative management simulation (CMS) genre, and development of further CMS games continues – the first is on track for release in FY25, with another title now in development for release in FY26. First acquisition

y experience the RTS genre for the first time. Frontier has a strong position in the creative management simulation (CMS) genre, and development of further CMS games continues – the first is on track for release in FY25, with another title now in development for release in FY26. First acquisition In November 2022, Frontier added a new development team through the acquisition of experienced game development studio Complex Games Inc. (Complex). This followed the successful collaboration between Complex and Frontier on the development and publication of the turn-based strategy game Warhammer 40,000: Chaos Gate – Daemonhunters, the biggest selling title in the portfolio of games published by Foundry. The acquisition has created a core development footprint for Frontier in Canada, a region with an extensive and growing talent pool for video game development, and the team is in the process of scaling-up to support future growth. Integration activities and growth plans for Complex are on track, and the acquisition delivered modest accretive financial benefits in FY23, as expected. Closure of Frontier Foundry In June 2023 Frontier confirmed the closure of its third-party publishing label, Frontier Foundry (Foundry), following the completion of a strategic review. The decision has already enabled a heightened level of operational focus to be applied to Frontier’s own internally developed portfolio of titles. Current Trading and Outlook We have achieved a solid start to FY24, which began on 1 June 2023, through the ongoing performance of the existing portfolio over the summer.

ady enabled a heightened level of operational focus to be applied to Frontier’s own internally developed portfolio of titles. Current Trading and Outlook We have achieved a solid start to FY24, which began on 1 June 2023, through the ongoing performance of the existing portfolio over the summer. The release of F1® Manager 2023 in July 2023 has so far not delivered the expected sales contribution, but any revenue shortfall in FY24 is expected to be offset by continued strong performance across the rest of the portfolio, as well as confirmed but as yet unannounced additional revenue streams, including for F1® Manager 2023. The big new game release for FY24 is still to come, with Warhammer Age of Sigmar: Realms of Ruin scheduled for release in November 2023. Our marketing campaign for launch kicked off strongly with our presence at Gamescom at the end of August. The Board continues to be comfortable with market expectations for FY24, with consensus revenue at £108 million and consensus Adjusted EBITDA* loss of £9 million. The Board is confident that the Company can return to attractive levels of financial performance over the mediumterm, based on the strength of its existing portfolio and planned new releases, underpinned by the refocusing of its strategy.