Evolution

Transaction in Own Shares • May 14, 2025

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 2025, 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 shall be distributed mainly through the repurchase of own shares. On 10 February 2025, the company announced a repurchase programme of EUR 500 million. Pursuant to the authorisation from the annual general meeting 2024, a total of 2,100,081 shares for approx. EUR 154 million were repurchased under the repurchase programme. The board of directors of Evolution has now, based on the authorisation from the annual general meeting 2025, resolved that the company shall continue to acquire own shares on Nasdaq Stockholm or another regulated market under the repurchase programme before the annual general meeting 2026. The maximum amount for which shares may be repurchased is the remaining amount of EUR 346 million.

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 2026.
• The maximum amount for which shares may be acquired may not exceed EUR 346 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 2025 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 and the company holds 7,371,042 treasury shares. The annual general meeting 2025 resolved upon reduction of the share capital through cancellation of 7,371,042 own shares. After the cancellation of the shares, the company's total number of share will be 204,462,162 and the company will hold no treasury shares, which means that a maximum amount of 20,446,216 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:

Joakim Andersson, CFO, ir@evolution.com, Carl Linton, IR, +46 70 508 85 75

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 May 14, 2025, at 10:00 CEST.

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 22,200+ people in studios across Europe and in North 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.