CONFERENCE CALL Q2 2025 MTO Net sales up 117% in constant currencies YoY, and reported sales up 103% given -14% negative FX impact in Q2 Reported revenue1, SEKm Reported revenue1, SEKm LTM YoY Sales growth YoY Organic growth Reported at constant FX 103% CAGR2 (9%(6% 9% 6% (117% 8,599 2,911 (18%3 28% 7,126 2,557 5,537 5,829 5,970 5,949 5,8936,015 (+21% 5,421 5,485 5,564 5,646 5,090 1,571 1,693 4,521 1,357 1,379 1,412 , 1,458 1,494 1,447 1,437 1,438 3,931 1,272 1,306 3,294 1,081 2,824 2,891 2,697 2,682 679635 767810 Q3'20Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22Q3'22Q4'22Q1'23 Q2'23Q3'23Q4'23Q1'24Q2'24Q3'24Q4'24Q1'25Q2'25 Q3'20Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22Q3'22Q4'22 Q1'23 Q2'23Q3'23Q4'23Q1'24 Q2'24Q3'24Q4'24 Q1'25 Q2'25 1) Gaming only 2) Annualized CAGR, time period: 4.75 years 3) Reported at constant FX Company presentation | Modern Times Group MTG AB Note: Figures from Plarium are included from 1 February in Q1 2o25

CONFERENCE CALL Q2 2025 MTO Revenue doubled YoY from Plarium consolidation as well as 9% organic growth driven by Word Games, Heroes of History, Warhammer 40,oo0: Tacticus and F1 Clash YoY development Revenue by franchise, SEKm YoY development in reported at constant Other smaller franchises Strategy & Simulation 2,911 currencies currencies Tower Defense Word Games 2,557 89 85 +2% +6% Q2 revenue Q2 largest games by Racing Plarium 108 95 184 -25% -17% per franchise revenue 114 530 +11% +14% 3% 1,693 567 +5% +7% 6% 598 +7% +16% 18% 3% 49% 41% 50% 1,437 1,438 112 101 120 84 120 81 135 608 21% 9% 166 161 674 Top 3 Other 507 524 671 1,066 1,424 Top 5 561 552 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Company presentation | Modern Times Group MTG AB

CONFERENCE CALL Q2 2025 MTO Healthy 22% margin maintained, despite ongoing investments in growth, with adj. EBiTDA up 50% YoY or 63% in constant currencies in Q2 Reported adj. EBITDA1, SEKm Reported adj. EBITDA1, SEKm LTM Adj. EBITDA margin Adj. EBITDA - CAPEX margin 22% 28%26% 25% 20% +50% CAGR² +23% 616 640 +26% 1,682 1,711 1,886 +11% 449 455 1,548 1,6511,666 439 426 1,416 1,451 1,408 b1,372 339 378 342 357 374 397 396 390 1,263 21,293 1,3 233 178 182 203 299 263 694 698 775 796 9031,103 Q3'20Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22Q3'22Q4'22Q1'23 Q2'23Q3'23Q4'23Q1'24Q2'24Q3'24Q4'24 Q1'25 Q2'25 Q3'20Q4'20 Q1'21 Q2'21 Q3'21 Q4'21Q1'22Q2'22Q3'22Q4'22Q1'23Q2'23Q3'23Q4'23Q1'24Q2'24Q3'24Q4'24Q1'25Q2'25 1) Gaming only, 2) Annualized CAGR, time period: 4.75 years Company presentation | Modern Times Group MTG AB Note: Figures from Plarium are included for a two-month period in Q1 2o25

> **[Chart page]** This page contains visual data — view in PDF for the best experience. CONFERENCE CALL Q2 2025 MTG Word Games geo-expansion and Plarium consolidation drive YoY DAU increase, with continued ARPDAU growth primarily from Plarium and growth of Racing franchise Revenue streams User development IAP Third party publication platforms (Other) —DAU —ARPDAU PIAA % 79% millions SEK 80 75% 10 9.0 9.0 5.0 70 -59% 61% 62% 60% 9 4.5 60 58% 58% 59% 8 6.6 6.4 6.5 3.5 4.0 7 6.4 6.5 2. 6.1 6 3 3.1 3.5 50 6 2.3 2.4 2.5 2.6 2.5 2.6 2.9 3.0 40 35% 35% 36% 35% 33% 32% 36% 5 2.5 30 21% 4 2.0 20 19% 3 1.5 10 6% 8% 6% 5% 6% 6% 4% 4% 2 1.0 2% 1 0.5 O O 0.0 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Note: Q2'24 DAU levels affected by the divestment of Kongregate, Q1'25 DAU levels affected by the acquisition of Plarium Company presentation | Modern Times Group MTG AB

CONFERENCE CALL Q2 2025 MO Strong underlying cash flows and healthy leverage levels support our continued growth Group cash flow statement, SEKm Income before tax adjusted for items not included in cash flow Q2'25 LTM Q2'25 512 1,839 Taxes paid -236 -759 1.12x 1.63x Changes in working capital 49 94 Financial Leverage ratio3 Cash flow from operations 325 1,174 leverage ratio3 4,607 CAPEX -54 -146 FX effects1 9 17 Free cash flow 280 1,045 3,183 Adj. EBITDA 640 2,101 LTM Levered cash conversion rate N/A 50% LTM Unlevered cash conversion rate N/A 48% Earnout payment -1,074 -1,074 Free cash flow after earnout payment -794 -29 Net financial Net debt Operational net income2 317 N/A debt Company presentation | Modern Times Group MTG AB 1) Add back FX to exclude realized FX effects 8

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