PlayWay

The primary purpose of this document is to provide a detailed list of corrections made to the Q1 2022 periodic report for the PlayWay S.A. Capital Group. The revisions specifically address Note 2 regarding investments in associated entities. The thesis of the update is to ensure accurate reporting of shareholding percentages and to eliminate clerical errors, such as duplicate entries, that were present in the original filing.

The scope of the data covers the financial standing and ownership structure of PlayWay S.A.’s extensive portfolio of game development studios as of January 1, 2022, through the first quarter of the year. The industry segments involved include various specialized game development and publishing houses under the PlayWay umbrella, such as Moonlit S.A., Movie Games S.A., and SimFabric S.A. The methodology involves a comparative presentation of "before" and "after" states for the investment table, highlighting specific adjustments to the "Share in Capital" column.

Key findings from the corrections reveal significant adjustments to ownership data. For instance, the shareholding in Moonlit S.A. was corrected to 21.81%, while Movie Games S.A. and CreativeForge Games S.A. were updated to 33.43% and 47.81%, respectively. Other notable corrections include Sonka S.A. at 39.35% and SimFabric S.A. at 44.96%. Additionally, the document notes the removal of a duplicate row for MeanAstronauts S.A. Despite these percentage adjustments, the total value of investments for the period remained consistent at 183,972 PLN, with a total financial result for the group from these entities reported at 5,272 PLN for the quarter.

PlayWay S.A., a prominent Polish video game developer and publisher, announced the appointment of Ludwik Sobolewski to its Supervisory Board on January 12, 2022. This appointment was conducted via co-option by the existing board members in accordance with the company’s statutes, following the resignation of Michał Kojecki in late 2021. The decision is subject to final approval at the next General Meeting of Shareholders.

Ludwik Sobolewski brings extensive legal and financial expertise to the role, holding a doctorate in law and having served as a legal advisor and advocate. His professional background is characterized by significant leadership roles within European capital markets, most notably serving as the President of the Management Board of the Warsaw Stock Exchange from 2006 to 2013 and as the CEO of the Bucharest Stock Exchange from 2013 to 2017. His experience extends to the public sector and various financial institutions, including a tenure as Vice President of the National Depository for Securities.

The appointment strengthens the board’s oversight capabilities through Sobolewski’s involvement in numerous commercial entities across the gaming, media, and financial sectors. He currently holds positions on the boards of several companies, including Games Box S.A. and EduGames S.A. Formal declarations confirm that he meets the independence criteria established by the Best Practice for GPW Listed Companies 2021. Furthermore, he does not engage in activities competitive with PlayWay S.A. and is not listed in the Register of Insolvent Debtors, ensuring compliance with Polish regulatory requirements for listed issuers.

The Management Board of PlayWay S.A., a prominent Polish game developer and publisher, established the official schedule for the publication of its periodic financial results throughout the 2022 calendar year. This regulatory disclosure serves to inform investors and the public market of the specific dates when the company will release its audited annual figures for the previous fiscal year as well as its interim performance metrics for the current periods. The scope of this schedule covers both individual and consolidated financial statements, ensuring transparency regarding the company’s fiscal health and operational progress within the Warsaw Stock Exchange framework.

The reporting cycle begins with the release of the standalone and consolidated annual reports for 2021 on April 29, 2022. Subsequent interim reporting for the 2022 fiscal year includes the first-quarter consolidated report on May 30 and the third-quarter consolidated report on November 29. The consolidated semi-annual report, covering the first half of 2022, is scheduled for publication on September 30. These dates represent the final deadlines by which the company must disclose its financial data to maintain compliance with Polish capital market regulations.

In accordance with specific ministerial ordinances regarding periodic information for security issuers, the company opted to streamline its reporting obligations. PlayWay S.A. exercised its right to omit the publication of quarterly reports for the fourth quarter of 2021 and the second quarter of 2022. Furthermore, the company integrated its individual financial data directly into its consolidated quarterly and semi-annual reports, thereby eliminating the need for separate standalone interim filings. This approach centralizes financial disclosures, providing a comprehensive view of the group’s performance while adhering to the legal requirements of the Act on Public Offering.

The management board of PlayWay S.A., a prominent Polish game developer and publisher headquartered in Warsaw, announced a formal change in its corporate governance structure effective December 31, 2021. This notification confirms the resignation of Michał Marcin Kojecki from his position as a member of the Supervisory Board. The departure was finalized on the final day of the 2021 calendar year, marking a specific transition point for the company’s oversight body.

The primary justification provided for this resignation is a change in the board member's place of residence, which necessitated his departure from the role. This administrative update was issued in compliance with Polish capital market regulations, specifically citing the Act on Public Offering and the conditions for governing the current and periodic information provided by securities issuers. The disclosure ensures transparency for shareholders and regulatory bodies regarding the composition of the company's leadership.

This governance update focuses exclusively on the internal leadership of PlayWay S.A. within the Polish market. The announcement was officially signed by Krzysztof Kostowski, the President of the Management Board, following the standard legal protocols for listed companies on the Warsaw Stock Exchange. While the notification details the vacancy created by the resignation, it does not outline immediate plans for a successor or additional changes to the board’s composition at the time of the announcement.

The release of Junkyard Simulator in Early Access on the Steam platform occurred on October 13, 2021, under the publishing label of Rebelia Games, a subsidiary in which PlayWay S.A. holds a 79% stake. Within the first 72 hours of availability, the title achieved a gross sales volume of 19,000 units on PC. This initial performance allowed the project to recoup approximately half of its total development, testing, localization, and marketing costs, which were capped at 0.77 million PLN.

Market reception during this three-day window was mixed, with the title receiving a 55% positive rating based on 250 player reviews. Despite the polarized feedback, the game reached a peak position of ninth on the Steam Global Bestseller list. Sales were geographically diverse, led by the United States at 19% and Germany at 18%, followed by the Russian Federation at 10% and the United Kingdom at 7%. Other notable markets included France, Canada, Australia, Poland, and China.

The conversion of the pre-launch interest was significant, as the outstanding wishlist stood at 182,000 units just prior to release. Following 72 hours of sales, 13,000 units were purchased directly from wishlists, leaving an outstanding wishlist of 179,000 units. Refund figures reached 1,700 units during this period. Looking forward, the strategic plan involves expanding the title’s reach through console ports, a Nintendo Switch version, and a VR adaptation, all to be developed by entities within the PlayWay capital group.

The release of the House Flipper Luxury DLC on the Steam platform on October 14, 2021, marked a significant commercial milestone for PlayWay S.A. and its subsidiary, Frozen District. Within the first few days of availability, the expansion reached a peak position of fourth on the Steam Global Bestseller list. Initial sales figures for the PC version reached 54,000 units, supported by a conversion of 37,000 purchases from the pre-launch wishlist. Player reception remained positive during this period, with an 81% approval rating based on 156 reviews, while refund requests remained low at approximately 200 units.

The geographic distribution of sales highlights a strong Western market presence, with the United States accounting for 33% of total volume, followed by Germany at 12% and the United Kingdom at 9%. Other notable markets include Canada, Russia, France, and Australia. Despite the initial sales surge, the outstanding wishlist remained robust at 181,000 units following the launch, suggesting continued long-term interest in the title.

Future strategy for the expansion involves broadening its platform reach beyond the initial PC release. Frozen District is slated to develop ports for Xbox and PlayStation consoles, while another entity within the PlayWay capital group will handle the Nintendo Switch version. Although specific production costs were not disclosed by the subsidiary at the time of reporting, the early performance metrics indicate a successful launch for the simulation genre add-on within the global digital distribution market.

PlayWay S.A. provides a comprehensive post-launch performance analysis for Car Mechanic Simulator 2021 following its multi-platform release in August 2021. The data confirms a highly successful commercial debut, with total development, marketing, and localization costs of 2.7 million PLN fully recouped within the first 24 hours of the Steam launch. The company maintains a revenue share of at least 85% from the title, which achieved a peak concurrent player count of 18,500, setting a new record for the PlayWay Group.

Sales figures at the time of reporting show 132,000 units sold on PC and 11,000 units on Xbox, supplemented by 161,000 DLC units on PC and 4,500 on Xbox. The title reached the top two positions on the Steam Global Bestseller list. Player reception remains strongly positive with a 93% approval rating on Steam based on 1,300 reviews. Geographic distribution of sales is led by the United States at 26%, followed by Germany at 9% and Russia at 7%, with the remaining volume spread across various international markets including the United Kingdom, France, and China.

Strategic management of the franchise includes a higher retail price point and a more conservative discounting strategy compared to previous iterations. Future growth is expected through the continued release of paid DLC and the development of ports for Nintendo Switch and Virtual Reality platforms by subsidiary companies within the PlayWay Group. Pre-launch interest was significant, evidenced by 425,000 demo downloads and an outstanding wishlist that remained at 251,000 units even after 70,000 wishlist conversions at launch.

PlayWay S.A. maintains a selective approach to the Best Practice for GPW Listed Companies 2021, reporting non-compliance with twenty-one specific principles as of July 2021. The company attributes these deviations primarily to its decentralized business model, which encompasses a capital group of approximately 120 entities. Significant gaps exist in the formalization of environmental, social, and governance strategies, as well as the absence of a documented diversity policy. Currently, the management and supervisory boards do not meet the recommended 30% minority representation threshold, though the company asserts that appointments remain based on qualifications and professional experience.

Operational oversight and risk management are handled directly by the Management Board rather than through segregated organizational units or dedicated internal auditors. This centralized structure extends to shareholder engagement, where the company opts against electronic participation or live streaming of General Meetings due to perceived technical costs and limited shareholder demand. Despite these omissions, transparency is maintained through monthly operational summaries, detailed resolution justifications, and a commitment to updating corporate web portals to meet evolving transparency requirements.

The company demonstrates full alignment with remuneration standards, emphasizing pay equity and gender equality across its leadership roles. While no formal stock option or incentive programs are currently in place, there is a commitment to link future variable compensation to long-term financial performance and sustainable development goals. Supervisory Board compensation remains fixed and independent of short-term results, ensuring objective oversight. Ultimately, the company balances its rapid growth and complex organizational structure by prioritizing essential transparency and independence standards while deferring more formalized reporting and specialized oversight roles until they are deemed necessary for its scale.

PlayWay S.A. formalizes the distribution of its net profit for the 2020 financial year through a resolution passed during the Ordinary General Meeting held on June 15, 2021. The primary objective of this action is to allocate a significant portion of the company's earnings to its shareholders, reflecting the financial performance of the Warsaw-based game developer and publisher during the preceding fiscal period.

The total amount designated for the dividend payment is 84,084,000.00 PLN. This distribution applies to all 6,600,000 shares issued by the company, resulting in a dividend of 12.74 PLN per share. The resolution establishes a clear timeline for the disbursement process, setting the dividend record date for June 23, 2021, and the final payment date for June 30, 2021.

This financial disclosure complies with Polish regulatory requirements for public companies listed on the Warsaw Stock Exchange, specifically following the guidelines set by the Minister of Finance regarding current and periodic information. The announcement, signed by the President of the Management Board, Krzysztof Kostowski, serves as a critical update for investors regarding the company's capital management strategy and its commitment to returning value to shareholders following the 2020 operating year.

The Ordinary General Meeting of PlayWay S.A., held on June 15, 2021, resulted in the successful adoption of all proposed resolutions regarding the company’s corporate governance and operational oversight. As a major Polish game developer and publisher listed on the Warsaw Stock Exchange, the company utilized this meeting to formalize its annual administrative requirements and confirm shareholder alignment with management’s strategic direction. The proceedings were conducted in accordance with Polish financial supervision regulations, specifically addressing the reporting obligations for issuers of securities.

A primary outcome of the meeting was the unanimous or majority approval of all submitted resolutions, with no formal objections recorded in the minutes. Due to the implementation of a computerized voting system, the assembly elected to bypass certain traditional procedural steps, such as the appointment of a dedicated Scrutiny Committee and the associated vote to waive secrecy for that committee’s selection. This shift toward digital processing reflects an emphasis on administrative efficiency during the voting process.

The scope of the meeting covered the fiscal activities and governance of PlayWay S.A. for the preceding period, involving participation from shareholders representing a significant portion of the share capital. Data provided for each resolution included the number of valid votes cast, the percentage of share capital represented, and the specific breakdown of votes in favor, against, and abstaining. The meeting was presided over by the President of the Management Board, Krzysztof Kostowski, ensuring that all legal and regulatory disclosures were met for the benefit of the Polish Financial Supervision Authority and the broader investment community.

The governance structure of PlayWay S.A. following its Ordinary General Meeting on June 15, 2021, reveals a highly concentrated ownership base dominated by two primary entities. This regulatory disclosure, mandated by Polish market transparency laws, identifies the shareholders who exercised at least 5% of the voting rights during the proceedings. The data reflects the company’s capital distribution at a specific point in time, providing insight into the internal influence and voting power held by its most significant investors within the Polish game development and publishing sector.

The findings indicate that the voting power at the meeting was split almost equally between two major stakeholders. Krzysztof Kostowski held 2,700,000 votes, representing 48.59% of the votes present at the meeting and 40.91% of the total voting rights in the company. Simultaneously, ACRX Investments Limited, based in Nicosia, Cyprus, held an identical stake of 2,700,000 votes, also accounting for 48.59% of the meeting’s votes and 40.91% of the total shares. Together, these two parties controlled over 97% of the votes cast during the session, illustrating a significant consolidation of decision-making authority.

This disclosure serves as a formal record of the company's compliance with the Act on Public Offering and the conditions for introducing financial instruments to organized trading. By detailing the specific shareholding percentages and geographic origins of major investors, the information establishes the baseline for the company’s corporate governance and strategic direction as of mid-2021. The reporting confirms that the executive leadership, specifically President Krzysztof Kostowski, maintains a dual role as both a primary shareholder and a key representative of the firm’s management board.

PlayWay S.A. issued a formal regulatory notification on June 7, 2021, regarding a strategic adjustment to its financial reporting schedule for the 2021 fiscal year. The primary objective of this announcement is to inform investors and regulatory bodies of a delay in the release of the consolidated semi-annual report for the first half of 2021. This update serves as a formal amendment to the initial schedule established in January 2021.

The revised schedule shifts the publication date of the consolidated semi-annual report from the originally planned date of August 27, 2021, to a new deadline of September 30, 2021. This one-month extension specifically targets the consolidated financial data for the first six months of the year. Despite this change, the management board confirmed that all other previously announced deadlines for periodic reports remains unchanged as of the date of the announcement.

This disclosure was made in compliance with Article 56, Section 1, Item 2 of the Act on Public Offering, which governs the dissemination of current and periodic information by entities listed on the Warsaw Stock Exchange. The notification was officially signed by Krzysztof Kostowski, President of the Management Board, and adheres to the standard reporting requirements for the Polish gaming sector and financial markets. The scope of the announcement is limited to the administrative timeline of PlayWay S.A.’s financial transparency obligations for the 2021 calendar year.