WARSAW, August 26th 2021 HALF-YEAR REPORT OF 11 BIT STUDIOS S.A. FOR THE FIRST HALF OF 2021 THE FIRST HALF OF 2021 1 nake HALF-YEAR REPORT OF 11 BIT STUDIOS S.A. FOR THEFIRST HALF OF 2021

e legal dversely LETTER FROM THE MANAGEMENT BOARD Warsaw, August 26th 2021 Dear Shareholders and Investors, Please be invited to read 11 bit studios S.A.’s report for the first half of 2021. We, as the Management Board, are clearly satisfied with the Company’s financial performance, which was far better than assumed in the budget for the period. In the first six months of this year, our Company posted revenue of nearly PLN 35.78m. Our EBITDA came in at PLN 19.76m, operating profit was more than PLN 14.49 m, and net profit reached almost PLN 13.31m. In the second quarter of 2021 alone, revenue amounted to PLN 20.94m, EBITDA reached PLN 13.38m and operating profit was PLN 11.05m. Net profit for that period came in at PLN 9.75m. It should be noted that since the first quarter of 2021 11 bit studios S.A.’s net profit has been reduced by non-cash costs accrued in connection with the Company’s 2021–2025 Incentive Scheme, which in the first half of 2021 were PLN 1,944,476. No such accruals were recognised the year before. At the end of this summary review of our results, we wish to draw your attention to the balance sheet item we are particularly proud of, that is our cash resources, comprising cash and cash equivalents, low-risk financial instruments and trade receivables. Despite growing capital expenditure, as at the end of June 2021 these cash resources reached the highest level in the Company’s history of PLN 114.56m, having increased 8.41% on the end of 2020. This is vitally important in the context of the strategy we presented at the Investor Conference held in June. The solid financial performance delivered by 11 bit studios S.A.

ash resources reached the highest level in the Company’s history of PLN 114.56m, having increased 8.41% on the end of 2020. This is vitally important in the context of the strategy we presented at the Investor Conference held in June. The solid financial performance delivered by 11 bit studios S.A. in the first half of 2021, despite a slight year-on-year decline due to the high base effect, was attributable to very good sales of products from our entire, steadily growing portfolio of proprietary games and games from our publishing line. We are particularly satisfied with the sales of Frostpunk and paid DLCs for this production, released as part of the Season Pass. By the end of June 2021, i.e. in a little more than three years from the game’s debut, revenue from Frostpunk (entire IP) came close to PLN 140m. As usual, the games released by the publishing division, mainly Moonlighter and Children of Morta, significantly contributed to our results. The revenue from the two games accounted for 27% of the Company’s total revenue in the first six months of 2021. The strong fundamentals enable smooth running of the business and make it possible to take up challenges we could not even dare to dream of a few years back. We are gearing ourselves up for those challenges very diligently by hiring more people and making required changes at the company. 11 bit studios S.A. currently has three in-house development teams working in full flow on games with a total production budget of PLN 110m. The fast-growing publishing division intends to spend another PLN 50m on new projects by the end of 2023, in addition to the PLN 30m

changes at the company. 11 bit studios S.A. currently has three in-house development teams working in full flow on games with a total production budget of PLN 110m. The fast-growing publishing division intends to spend another PLN 50m on new projects by the end of 2023, in addition to the PLN 30m HALF-YEAR REPORT OF 11 BIT STUDIOS S.A. FOR THE FIRST HALF OF 2021 2

headqu was v earmarked for projects already in its portfolio. The Company is also well advanced in its efforts to establish a corporate group. We hope that we will soon be able to publish more information on this as well as other valuable projects we are working on, which are of interest to Investors and Shareholders, and which we have not been able or ready to talk about so far. We firmly believe that the information will be welcomed as warmly as the news we announced on August 12th, that one of the games we are working on is Frostpunk 2. The count of views of the game’s trailer, favourable articles in all of the most influential industry media, as well as the pace of wishlist building are, in our opinion, impressive, which confirms that fans are looking forward to more games set in the universe we have created, and that the development directions we have chosen are the right ones. Thank you once again for the trust you place in us. We invite you to read our report. h Sichoul flild Dobl Przemysław Marszał Grzegorz Miechowski Michał Drozdowski President of the Member of the Member of the Management Board Management Board Management Board 3 HALF-YEAR REPORT OF 11 BIT STUDIOS S.A. FOR THE FIRST HALF OF 2021

e legal dversely TABLE OF CONTENTS LETTER FROM THE MANAGEMENT BOARD 2 TABLE OF CONTENTS 4 FINANCIAL HIGHLIGHTS 7 Statement of financial position 7 Statement of profit or loss 7 Statement of cash flows 8 INTERIM CONDENSED FINANCIAL STATEMENTS OF 11 BIT STUDIOS S.A. FOR THE FIRST HALF OF 2021 9 1. OVERVIEW 10 1.1. Company overview 10 1.2. Covered periods 10 1.3. Composition of the Company’s governing bodies as at June 30th 2021 ..11 1.4. Auditor 11 1.5. Shareholding structure as at the date of issue of the half-year report 12 1.6. Company shares held by members of its management and supervisory staff 13 1.7. Commentary on estimates of financial results 14 1.8. Headcount 14 1.9. Functional and presentation currency 14 1.10. Management Board’s representation 14 1.11. Statement of the Company’s Management Board concerning the entity authorised to review the reliability of preparation of the interim condensed financial statements 15 1.12. Authorisation of financial statements 15 2. FINANCIAL STATEMENTS OF 11 BIT STUDIOS S.A. 16 2.1. Interim statement of comprehensive income (PLN) 16 2.2. Interim statement of financial position (PLN) 17 2.3. Interim statement of changes in equity (PLN) 19 2.4. Interim statement of cash flows (PLN) 21 3. NOTES TO THE FINANCIAL STATEMENTS 22 3.1. Application of IFRSs 22 3.2. Revenue (PLN) ..25 3.3. Other income and expenses (PLN) 26 3.4. Depreciation and amortisation (PLN) 27 3.5. Services (PLN) 27 3.6. Salaries, wages and employee benefits (PLN) 28 3.7. Finance income (PLN) 28 3.8. Finance costs (PLN) 29