Evolution

Transaction in Own Shares • Feb 10, 2025

Press release 10 February 2025 at 16:00 CET

The board of directors of Evolution AB (publ) has resolved on acquisitions of own shares

Evolution AB (publ) ("Evolution") has, based on the authorisation from the annual general meeting 2024, resolved that the company shall acquire own shares in accordance with its capital allocation framework. The purpose of the acquisition of own shares is to optimise and improve the capital structure of the company by reducing the capital, thereby creating added shareholder value.

Pursuant to Evolution's capital allocation framework, excess capital can be distributed through the repurchase of own shares. On 18 July 2024, the company announced a repurchase programme of EUR 400 million which, as announced on 23 October 2024, has been completed.

Against this background, the board of directors of Evolution has, based on the authorisation from the annual general meeting 2024, resolved that the company shall acquire its own shares on Nasdaq Stockholm or another regulated market before the annual general meeting 2025. The maximum amount for which shares may be repurchased under this repurchase programme is EUR 500 million. The board of directors also intends to seek an authorisation from the annual general meeting 2025 to resolve on repurchases of own shares and, provided that the authorisation is approved by the annual general meeting, to utilise the authorisation to carry out any repurchases that could not be completed before the annual general meeting 2025.

The repurchase programme will be implemented in accordance with the EU Market Abuse Regulation No 596/2014 ("MAR") and the Commission Delegated Regulation No 2016/1052 ("Safe Harbour Regulation"). Acquisitions of shares shall be made by an investment firm or a credit institution which shall make its trading decisions concerning the timing of the purchases of shares independently of Evolution.

Terms and conditions for acquisitions of own shares

According to the board of directors' resolution, any acquisition of own shares shall be made on Nasdaq Stockholm or another regulated market, in accordance with Nasdaq Stockholm's Rule Book for Issuers, or otherwise applicable rules, and the following terms and conditions:

• Acquisitions may be made on one or more occasions before the annual general meeting 2025.
• The maximum amount for which shares may be acquired may not exceed EUR 500 million.
• Acquisitions shall be made at a price within the price interval registered for the share at any given time.
• Acquired shares shall be paid in cash.

Total number of shares in the company and the company's holding of own shares

In accordance with the authorisation from the annual general meeting 2024 the company's holding of own shares shall not at any given time exceed 10 per cent of all shares in the company. As of today, the total number of shares in the company is 211,833,204 shares. The company currently holds 5,270,961 treasury shares, which means that a maximum amount of 15,912,359 shares may be repurchased under the authorisation.

Reporting of completed acquisitions of own shares

Completed acquisitions of own shares will be reported in accordance with applicable laws and regulations as well as Nasdaq Stockholm's Rule Book for Issuers.

For further information, please contact:

Jacob Kaplan, CFO, ir@evolution.com

This information is such that Evolution AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above on 10 February 2025, at 16:00 CET.

Evolution AB (publ) ("Evolution") develops, produces, markets and licenses fully-integrated B2B Online Casino solutions to gaming operators. Since its inception in 2006, Evolution has developed into a leading B2B provider with 800+ operators among its customers. The group currently employs about 21,000 people in studios across Europe, North- and South America. The parent company is based in Sweden and listed on Nasdaq Stockholm with the ticker EVO. Visit www.evolution.com for more information. Evolution is licensed and regulated by the Malta Gaming Authority under license MGA/B2B/187/2010. Evolution is also licensed and regulated in many other jurisdictions such as the United

Kingdom, Belgium, Canada, Romania, South Africa, and others.