Annual Report of the Capital Group: PCF Group S.A. 2024

1. 01
   PCF Group S.A.'s equity decreased by 41% (176.2 million PLN) in 2024 compared to 2023, primarily due to a net loss of 174.4 million PLN.See it on page 53
2. 02
   Cash and cash equivalents significantly decreased by 53% (65.9 million PLN), from 124.0 million PLN at the end of 2023 to 58.1 million PLN at the end of 2024.See it on page 58
3. 03
   The launch of "Bulletstorm VR" on Pico platforms occurred on September 19, 2024, but its market reception was poor due to unsatisfactory quality and negative reviews, leading to lower-than-expected revenues.See it on page 26
4. 04
   PCF Group S.A. entered into a development and publishing agreement with Microsoft Corporation on June 13, 2023, for an AAA game codenamed "Project Maverick."See it on page 31
5. 05
   The Group faces a high risk of losing highly qualified game development specialists due to strong market demand and a deficit of such professionals, which could negatively impact game quality, release schedules, and financial performance.See it on page 44
6. 06
   Project Gemini, a game comparable in scale to Outriders, is planned for release in 2026.See it on page 45
7. 07
   PCF Group S.A. does not have a dedicated Compliance Director or Risk Director; these functions report directly or indirectly to the CEO.See it on page 44

PlayWay S.A. Articles of Association (Consolidated Text, 2026)

PlayWay · 2026