Warsaw, 28 August 2025 Warsaw, 28 August 2025 HALF-YEAR REPORT HALF-YEAR REPORT OF 11 BITSTUDIOS S.A. OF 11 BIT STUDIOS S.A. FOR THE SIX FOR THE SIX MONTHS ENDED 30 JUNE nake YOUR11bit aRK StUdIos HALF-YEAR REPORT OF 11 BIT STUDIOS S.A. FOR THE SIX MONTHS ENDED 30 JUNE 2025

LETTER FROM THE MANAGEMENT BOARD Warsaw, 28 August 2025 DEAR SHAREHOLDERS AND INVESTORS, It is our pleasure to present to you the half-year report of 11 bit studios S.A. for the six months ended 30 June 2025. During the period, we earned PLN 57.24 million in revenue, a year-on-year increase of 86.09%. This growth was driven by the expansion of the Company’s portfolio to include a new proprietary title – The Alters, launched on 13 June 2025 for PCs and consoles (Xbox Series X|S and PlayStation®5). The game has been very well received by players and professional critics alike, earning scores of 8.2/10 and 85/100, respectively, on Metacritic. By 8 July 2025, its sales exceeded 280 thousand copies. In addition to back-catalogue sales of games released in previous periods, an important contributor to the Company’s revenue during the first six months of 2025 was recurring income from Microsoft Corporation for making selected titles – primarily The Alters and Frostpunk 2 – available to players via their Game Pass service. At the same time, the Company’s operating expenses in the first half of 2025 went up by 11.70% year on year, to PLN 40.34 million. The rise was mainly due to a nearly fourfold increase in amortisation and depreciation expense relative to the year before, to a total of PLN 10.95 million, which reflected the recently commenced amortisation of The Alters and Frostpunk 2. 11 bit studios S.A. applies a declining-balance amortisation method for both titles, which affects the level of reported profits compared with earlier periods.

ive to the year before, to a total of PLN 10.95 million, which reflected the recently commenced amortisation of The Alters and Frostpunk 2. 11 bit studios S.A. applies a declining-balance amortisation method for both titles, which affects the level of reported profits compared with earlier periods. Consequently, at the operating level, the Company earned PLN 18.07 million in the six-month reporting period, compared with an operating loss of PLN 5.35 million posted a year earlier. Net profit for the period amounted to PLN 8.48 million, or PLN 3.51 per share. Non-cash finance costs in excess of PLN 8 million, attributable to the necessary revaluation of financial assets in the form of cash held by the Company in foreign currencies The first half of 2025 was a particularly strong period for the Polish złoty, which appreciated against both the euro and US dollar – the currencies in which the majority of the Company’s revenue is earned. preparing for its launch, during the first six months of 2025 the Company continued work on the console edition of Frostpunk 2, scheduled for release on 18 September 2025, and on the first of its paid DLCs, which will become available to the gaming community later this year (the next two will premiere in 2026). On its part, The Alters team, immediately after the June release, focused on implementing fixes and improvements requested by players and, during the summer period, began to work on a paid DLC, whose release is expected next year.

ing community later this year (the next two will premiere in 2026). On its part, The Alters team, immediately after the June release, focused on implementing fixes and improvements requested by players and, during the summer period, began to work on a paid DLC, whose release is expected next year. In the publishing segment, 11 bit studios S.A. prepared for the planned 23 October 2025 Early Access release of Moonlighter 2: The Endless Vault, as well as the launch of Death Howl, also slated for this year. The former’s developer is the Spanish studio Digital Sun, while the latter is being created by The Outer Zone of Denmark. A key event in the early months of 2025 was the presentation of the Company’s strategic vision for the coming years, which took place at the Investor Conference in April. In accordance with the strategy, the operations of 11 bit studios S.A. over the next years will be organised around three core pillars. The first one will involve the development of entirely new games based on original or existing Company IP, created by in-house teams. This ‘new games internal dev’ pillar aims to build opportunities for major product and commercial success. The second strategic focus will be on the long-term development of selected proprietary titles with large player bases, referred to as ‘platform games’. This pillar is designed to stabilise revenue, mitigate risk, and expand the Company’s IP portfolio. The third pillar will involve publishing.

ess. The second strategic focus will be on the long-term development of selected proprietary titles with large player bases, referred to as ‘platform games’. This pillar is designed to stabilise revenue, mitigate risk, and expand the Company’s IP portfolio. The third pillar will involve publishing. The plan is for the publishing division to diversify the Company’s business and pursue additional success opportunities on a title-by-title basis. As part of this strategy, by the end of 2024, the Company had already initiated work on its first platform game, Frostpunk 1886. The title, planned In the proprietary games segment, in parallel with for release in 2027, is an expanded and upgraded the final stages of developing The Alters and version of the original Frostpunk, which is being HALF-YEAR REPORT OF 11 BIT STUDIOS S.A. FOR THE SIX MONTHS ENDED 30 JUNE HALF-YEAR REPORT OF 11 BIT STUDIOS S.A. FOR THE SIX MONTHS ENDED 30 JUNE 2025

StUdIos 905,327 rebuilt on the new Unreal Engine 5. The project will ultimately involve a team of around 30 developers. Concept work on additional proprietary titles is already underway, most notably the projects codenamed P12 and P13, while further initiatives (P14 and P15) are expected to commence over the coming quarters. We would like to once again thank you for the trust you place in our Company and encourage you to read the report. Signed by: Przemystaw Marszat Przemysław Marszał President of the Management Board fliled Dobl Grzegorz Miechowski Michat Drozdowski Michał Drozdowski Member of Member of the Management Board the Management Board Paweł Feldman Marek Ziemak Member of Member of the Management Board the Management Board HALF-YEAR REPORT OF 11 BIT STUDIOS S.A. FOR THE SIX MONTHS ENDED 30 JUNE 2025