5th Planet Games A/S — Earnings Release 2016

Apr 4, 2017

Hugo Games announces its Annual Report 2016 and expects positive EBITDA Q4 2017 NO-09/2017

Hugo Games announces its Annual Report 2016 and expects positive EBITDA Q4 2017 NO-09/2017

Announcement no. 09/2017

Copenhagen, 4. April 2017

Hugo Games announces its Annual Report 2016 and expects positive

EBITDA Q4 2017

Hugo Games' attached financials for 2016 with a negative EBITDA of

DKK 16 million reflects;

i) a revised product strategy where focus is shifting away from

endless runner games to multiplayer games characterized by higher

revenues per user, including the upcoming football game with FC

Barcelona, Real Madrid and Arsenal FC. The depreciation and

impairment loss (DKK 29 million) of previous product development is

a natural consequence of the revised product strategy with focus on

other game categories.

ii) disappointing revenues from the Ronaldo game "KickNRun". Even

though the game has received some of the best user reviews ever seen

for an endless runner game, the revenues per user has been

disappointing and reflects the challenging environment for endless

runner games. Given the excellent cooperation with Ronaldo's team so

far, the parties are currently evaluating if there is common ground

for a future cooperation under different terms.

With the revised strategy and upcoming game portfolio, the announced

acquisition of the British game studio Fuzzy Frog with 27 employees

and restructuring of the development studio in Copenhagen, Hugo

Games expects positive EBITDA (before restructuring) in Q4 2017.

Hugo Games A/S

Henrik Kølle, CEO of Hugo Games

E-mail: hek@hugogames.com

Phone: +4540285054

About Hugo Games

Hugo Games is a Nordic mobile games publisher and developer located

in Copenhagen. At Hugo Games we are passionate about games and we

are committed to making titles that will engage and bring genuine

joy to people for years. We have a consistent portfolio of games

globally available across a wide range of platforms including iOS,

Android, Windows, Amazon and Facebook.

More information available at www.hugogames.com

This company announcement contains forward looking statements

related to the future business and financial performance and future

events or developments involving Hugo Games A/S. Such statements are

based on the current expectations and certain assumptions of Hugo

Games A/S' management, of which many are beyond Hugo Games A/S'

control. These are subject to a number of risks, uncertainties and

factors, including but not limited to competition, industry

downturns, inability to enforce contractual and other arrangements,

dependence on key personnel and other market and economic factors.

Should one or more of these risks or uncertainties materialize, or

should underlying expectations not occur or assumptions prove

incorrect, actual results, performance or achievements of Hugo Games

A/S may (negatively or positively) vary materially from those

described explicitly or implicitly in the relevant forward-looking

statement. Hugo Games A/S neither intends, nor assumes any

obligation, to update or revise these forward-looking statements in

light of developments which differ from those anticipate