an Investment Governance Statements Information Our mission is to provide cre entertainment ative products of highest the people quality for of all ages Thunderful Group was founded in 2019 as a company with the opportunity to provide creative, high-quality entertain ment products to people of all ages. We are driven by our vision “To be a leader in a world where everyone can play”, and we work actively with devel opment, publishing and investment in games, as well as dis tribution of Nintendo products, games, game accessories and toys. Our operations fulfil an important function, in which our product and service range today creates conditions for cre ativity and learning, as well as digital communication and entertainment. We work continuously to develop our offering and a sus tainable value chain. This generates value for our customers and other stakeholders, while strengthening our position as a supplier of creative entertainment products also in the future.

Our segments Games Today, playing games is the most common form of entertain ment, and the gaming sector is by far the largest sector in entertainment. Our Games segment develops games, pub lishes games and invests in game projects, with operations conducted within four revenue streams: IP-Building, Development, Partners, and Investment. Distribution Our Distribution segment is active in the distribution of Nin tendo products, games, gaming accessories and toys. Our aim is always to achieve this efficiently and sustainably. Operations are conducted through the three subgroups Bergsala, Amo Toys, and Nordic Game Supply.

an Investment Governance Statements Information Game: SteamWorld Build Game: SteamWorld Build Studio: The Station Contents Introduction Thunderful as an Investment This is Thunderful Group 05 The Share and Owners 46 CEO Comment 08 Risks and Risk Management 48 Targets and target fulfilment 12 Corporate Governance Strategy Corporate Governance Report 54 Market and Trends 14 Board of Directors 60 Value Chain 19 Group Management 61 Strategic Focus Areas 20 Remuneration Sustainability Remuneration Report 62 General Management 23 Financial Statements Environment 24 Board of Directors’ Report 64 Social 26 Consolidated Financial Statements 70 Governance 28 Parent Company Financial Statements 75 Operations Notes 80 Games 31 Audit Report 108 IP-Building 32 Other Information Co-Development 34 Financial Calendar 110 Partners 36 Contact 110 Investment 37 Distribution 41 Bergsala 42 Amo Toys 44 Nordic Game Supply 45

Thunderful Group – an international group in games and entertainment Thunderful Group is an international corporation that develops, publishes and invests in games as well as distributing Nintendo products, games, game accessories and toys. Operations are conducted through the two segments Games and Distribution. H SEK 2.8 Net Sales 2023  bn #519 Employees per 31 December 2023

an Investment Governance Statements Information The Group has a diversified busi ness with a common purpose Thunderful creates, publishes and distributes entertainment products to a broad target group in the Nordics and globally. The two complementary segmens enable cash flows from Thunderful Group’s Distribution business to be reallocated to the Games segment, where a higher growth rate and return on invested capital can be achieved. Successful products and partnerships Through the Games segment, Thunderful Group has had several successful game launches, and has now a broad portfolio of various IPs. This is an important success factor for the Group, together with the fact that the Group, through Bergsala, since 1981 has had the Nordic distribution opera tions for Nintendo products. The Group also has a wide product range of popular games, game accessories and toys. Cash flows from Distribution The Group’s positive cash flows from the Distribution seg ment are invested in the Games segment to enable higher returns. High industry expertise and entrepreneurial spirit Thunderful Group is the result of a merger of several differ ent companies, where the companies are increasingly man aged based on an overall group strategy and management. The goal is to run the Group’s various operations in a good balance between entrepreneurial drive and common strate gies and control processes. International presence Through its two segments and diversified operations, Thunderful Group has a strong international position and presence. Segments Countries

l is to run the Group’s various operations in a good balance between entrepreneurial drive and common strate gies and control processes. International presence Through its two segments and diversified operations, Thunderful Group has a strong international position and presence. Segments Countries #2 #8