CEO's message | Net sales and earnings | Other financial information | Financial reports | Other information OIANDNLLLL .5 ENTERTAINMENT Q4 Interim Report October - December 2025 October - December 2025

CEO's message | Net sales and earnings | Other financial information | Financial reports | Other information OIANDNLLLL Fourth quarter 2025 Significant events during and after the quarter • Net sales amounted to SEK 41.1 million (46.4). • On December 2, Skills 2.0 for PAYDAY™3 was released as a free update for PAYDAY 2 accounted for SEK 14.8 million (10.3). PC and console. Read more here. PAYDAY 3 accounted for SEK 8.0 million (14.7). Third-party publishing accounted for SEK 0.6 million (15.4). • On January 13, Shopping Spree was launched, a new DLC heist for PAYDAY Work-for-hire accounted for SEK 17.3 million (5,0) 3. In connection with the launch, a free update was also released to all • EBITDA* amounted to SEK -12.0 million (19.7). players with improvements to the gameplay experience and more • Cash flow from operating activities amounted to SEK -3.4 comprehensive bug fixes.Read more here . million (-0.3). • Depreciation, amortization and impairment amounted to SEK 49.9 million (190.2). • Profit/loss before taxes amounted to SEK -61.9 million (-167.6). • Basic and diluted earnings per share amounted to -0.04 SEK (-0.11). Full-year 2025 pT#B#?nrCA@s"DB?mCA • Net sales amounted to SEK 221.0 million (185.9). PAYDAY 2 accounted for SEK 50.1 million (41.8). !"#A%CDEF"G +I+J +I+K +I+J +I+K PAYDAY 3 accounted for SEK 76.5 million (82.9). (47.7). G"!/ 0K 0K N23QR"S N23QR"S Third-party publishing accounted for SEK 15.4 million Work-for-hire accounted for SEK 74.4 million (6,3) • EBITDA* amounted to SEK 29.0 million (97.6). !"#ABCD"B EF*FHH EI*-K/ HH/*MNH FNK*NKF • Cash flow from operating activities amounted to SEK 45.8 2P45ST8 9FF*MK/ FM*I:/ HN*MMN M:*IEE

"S N23QR"S Third-party publishing accounted for SEK 15.4 million Work-for-hire accounted for SEK 74.4 million (6,3) • EBITDA* amounted to SEK 29.0 million (97.6). !"#ABCD"B EF*FHH EI*-K/ HH/*MNH FNK*NKF • Cash flow from operating activities amounted to SEK 45.8 2P45ST8 9FF*MK/ FM*I:/ HN*MMN M:*IEE • million (64.9). ;<=>?#A@9D=BBAAB">=<"A#CC 9IF*NNF 9FI:*KMM 9E/H*IKM 9-F:*II: Depreciation, amortization and impairment amounted to SEK 2C<a?abBAc"<ABdC<"*Ae2f 9/g/E 9/gFF 9/gHK 9/gHH 429.9 million (417.4), of which impairment of the Baxter hCBdA>D=iA><=MA=c"<C#?=aB 9-*E/E 9-/- EK*N-H IE*N:/ • project amounted to SEK 261.9 million. !"#ABCD"BAc"<A"McD=k"" HNN HEK F*-MM 983 Profit/loss before taxes amounted to SEK -402.7 million • (-317.7). 8l=<Am">?a?#?=aBA=>Ac"<>=<MCan"AM"CBo<"B*AB""AcCb"AHE Basic and diluted earnings per share amounted to -0.25 SEK (-0.22). • Cash and cash equivalents amounted to SEK 102.6 million (191.9). Report October - December 2025

Table of contents 01 CEO’s message 02 Net sales and earnings 03 Other financial information 04 Financial reports 05 Other information

CEO's message | Net sales and earnings | Other financial information | Financial reports | Other information CEO’s message Delivering with Focus, Building Momentum Across the PAYDAY IP The fourth quarter of 2025 marked a period of steady execution for Starbreeze. Our priority has been to stabilize the business, deliver on our commitments, and lay a solid foundation for sustainable growth. for the year amounted to SEK 45.8 focus on replayability, alongside million, highlighting the resilience of additional quality-of-life the core business. Cash at year-end improvements. Together, these totaled SEK 102.6 million, with no releases represent tangible progress interest-bearing debt. in improving the PAYDAY 3 experience. PAYDAY FRANCHISE Strengthening trust with players and FINANCIAL PERFORMANCE During the quarter, the PAYDAY 3 team In the fourth quarter, net revenue established a stable monthly amounted to SEK 41.1 million, cadence for updates, a key milestone compared to SEK 46.4 million in the in our transition toward a more same period last year. The PAYDAY consistent live-engagement model. franchise contributed SEK 22.8 million, The release of Skills 2.0 marked a while work-for-hire accounted for SEK meaningful step forward, directly 17.3 million. addressing long-standing player the community is a long-term effort, and the team remains focused on consistent delivery. PAYDAY 2 continues to perform well and exceed expectations during the seasonal sales period. Through our exclusive partnership with an external development team, the game remains actively supported with

layer the community is a long-term effort, and the team remains focused on consistent delivery. PAYDAY 2 continues to perform well and exceed expectations during the seasonal sales period. Through our exclusive partnership with an external development team, the game remains actively supported with While net revenue for the fourth feedback and enabling deeper, more both updates and new content. This quarter declined year-on-year, full impactful build customization. This allows PAYDAY 2 to continue delivering year net revenue increased to SEK work will continue, with ongoing strong value for its dedicated player 221.0 million, up from SEK 185.9 million tuning and improvements based on base, while our internal teams remain in the previous year. PAYDAY remained both player input and our long-term fully focused on the future of PAYDAY the primary driver, with PAYDAY 2 vision for the game. 3 and the broader franchise. showing strong growth and PAYDAY 3 Shortly after year-end, we launched maintaining a stable level with clear the Shopping Spree Heist, introducing potential ahead. Operating cash flow new gameplay scenarios with a strong