5th Planet Games A/S — Earnings Release 2016

Apr 4, 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 forwardlooking statement. Hugo Games A/S neither intends, nor assumes any obligation, to update or revise these forwardlooking statements in light of developments which differ from those anticipate