Financial · June 11, 2025

FY25 Trading Update: For the Financial Year 1 June 2024 to 31 May 2025

Summary

Frontier Developments has successfully executed a strategic pivot toward its core Creative Management Simulation (CMS) portfolio, which now generates 77% of total revenue. This refocusing effort resulted in a provisional FY25 revenue increase to £90.6 million and a substantial rise in Adjusted EBITDA to between £8 million and £9 million, up from just £0.9 million the previous year. Financial stability is further evidenced by a 10% reduction in cash operating expenses and a strengthened cash position of £42.5 million. This robust performance prompted the initiation of a £10 million share buyback program to return capital to shareholders. Operational success is driven by both new releases and the sustained performance of established franchises. Planet Coaster 2 achieved a strong launch with over 500,000 units sold, while the Jurassic World Evolution and Planet Zoo series continue to provide a stable foundation, contributing 27% and 25% of total revenue respectively. Notably, Elite Dangerous experienced a 76% year-over-year revenue surge, fueled by a 150% increase in downloadable content sales following the introduction of new ship access models. These results underscore the effectiveness of a streamlined development approach and improved gross margins, which reached approximately 70%. The long-term growth strategy relies on a disciplined release schedule and enhanced leadership structures. A newly established Executive Board has been tasked with improving operational efficiency and unifying decision-making across the organization. Future growth is anchored by the confirmed release of Jurassic World Evolution 3 on October 21, 2025, alongside an unannounced CMS title currently in development for FY27. By concentrating resources on high-margin simulation titles and optimizing internal workflows, the company has successfully transitioned from a period of restructuring to one of sustainable profitability and capital return.

From the report

FY25 TRADING UPDATE FOR THE FINANCIAL YEAR 1 JUNE 2024 TO 31 MAY 2025 11 JUNE 2025 © 2025 FRONTIER FRONTIER DEVELOPMENTS DEVELOPMENTS PLC. PLC. ALL ALL RIGHTS RIGHTS RESERVED PRIVATE AND CONFIDENTIAL RESERVED

STRONG RESULTS AND INCREASED MOMENTUM 2 FINANCIALS the account or benefit of, U.S. Persons (as defined in or advisers take any responsibility for, or will accept any shareholders, directors, officers, agents, employees or document ("Presentation") has been prepared liability whether direct or indirect, express or implied, advisers. Each party to whom this Presentation is made • Our strategy to refocus on Creative Management Simulation (CMS) games available must make its own independent assessment is delivering. of the Company after making such investigations and • We have grown revenue and significantly increased profit and cash. taking such advice as may be deemed necessary. In nor any state securities commission has approved howsoever arising, from the use of this Presentation. particular, any estimates or projections or opinions • We are initiating a share buyback programme to enhance shareholder value. contained herein necessarily involve significant have professional experience in matters relating to representation to the contrary is a criminal offence.

s Presentation. particular, any estimates or projections or opinions • We are initiating a share buyback programme to enhance shareholder value. contained herein necessarily involve significant have professional experience in matters relating to representation to the contrary is a criminal offence. subject to material updating, revision and further assumptions and each recipient should satisfy itself in investments and who fall within the category of person set out This Presentation does not constitute an offer, or any amendment. in Article 19 of the Financial Services and Markets Act 2000 This Presentation may contain forward-looking Neither this Presentation nor any copy of it may be (a) OUR CURRENT PORTFOLIO solicitation of an offer to subscribe for or purchase, any statements that involve substantial risks and taken or transmitted into Australia, Canada, Japan, the worth companies within the meaning set out in Article 49 of securities in the Company. Such an offer will be made uncertainties, and actual results and developments may • Player engagement only by delivery of an offering memorandum and with Planet Coaster 2is strengthening. differ materially from those expressed or implied by United States of America (each a "Restricted Territory"), Any other person who receives this Presentation should not these statements.

s may • Player engagement only by delivery of an offering memorandum and with Planet Coaster 2is strengthening. differ materially from those expressed or implied by United States of America (each a "Restricted Territory"), Any other person who receives this Presentation should not these statements. These forward-looking statements their territories or possessions; (b) distributed to any • Planet Zoo, Jurassic World Evolution 2, and Elite Dangerous all had strong years. immediately returning it, the recipient represents and SecuritiesAct) or (c) distributed to any individual shareholders, directors, officers, agents, employees or things, the Company's results of operations, financial outside a Restricted Territory who is a resident thereof description of persons entitled to receive the Presentation. advisers give, have given or have authority to give, any condition, prospects, growth, strategies and the in any such case for the purpose of offer for sale or This Presentation is not to be disclosed to any other person or representations or warranties (express or implied) as to, or industry in which the Company operates.

or have authority to give, any condition, prospects, growth, strategies and the in any such case for the purpose of offer for sale or This Presentation is not to be disclosed to any other person or representations or warranties (express or implied) as to, or industry in which the Company operates. By their solicitation or invitation to buy or subscribe any FY26 AND BEYOND in relation to, the accuracy, reliability or completeness of securities or in the context where its distribution may be the information in this Presentation, or any revision thereof, uncertainties because they relate to events and depend construed as such offer, solicitation or invitation, in any The securities referred to in this Presentation have not been or of any other written or oral information made or to be on circumstances that may or may not occur in the such case except in compliance with any applicable • Jurassic World Evolution 3 announced for release on 21 October 2025 (in FY26). Securities Act"), or the securities laws of any state of the of the date of this Presentation and the Company does exemption. The distribution of this document in or to such information being referred to as"Information") and persons subject to other jurisdictions may be restricted • Our unannounced CMS game for release in FY27 is in development and on track. by law and persons into whose possession this United States or to, or for neither the Company nor any of its shareholders, forward-looking statements to reflect events or document comes should inform themselves about, and • The Board are confident in Frontier’s ability to deliver further annual observe, any such restrictions.

e possession this United States or to, or for neither the Company nor any of its shareholders, forward-looking statements to reflect events or document comes should inform themselves about, and • The Board are confident in Frontier’s ability to deliver further annual observe, any such restrictions. Any failure to comply growth in FY26. with these restrictions may constitute a violation of the giving of investment advice by the Company or any of laws of the relevant jurisdiction. its

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