5th Planet Games A/S — M&A Activity 2017

Apr 17, 2017

Announcement no. 10/2017 Copenhagen, 17. April 2017

Hugo Games A/S

Completion of acquisition of game studio

With reference to announcement no. 5 of 2 April 2017, Hugo Games announces completion of the acquisition of game studio Fuzzy Frog Ltd. (the "Transaction"). The final details of the Transaction provides Hugo Games with a total ownership of 50.9% of the share capital of Fuzzy Frog Ltd. against the issue of 4,479,895 new shares as consideration (the "Consideration Shares").

The Consideration Shares are subject to a lock-up period of 6 months from the date of 12 April 2017.

The final terms of the Transaction provides the sellers with an option to call Hugo Games to purchase the remaining shares of Fuzzy Frog Ltd. If certain conditions are fulfilled, Hugo Games is required to execute such purchase.

The option may be exercised at any time after Fuzzy Frog has divested its shares in the subsidiary Thrive Therapeutic Software Limited. If the option is exercised on or before 12 April 2018, the purchase price shall be calculated based on the same price per share in Fuzzy Frog as the Transaction. If the option is exercised after 12 April 2018, the purchase price shall be based on market value of Fuzzy Frog.

The total share capital of Hugo Games following the Transaction is nominal DKK 24,877,021.50 made up of 49,754,043 shares of DKK 0.50.

Contact, for more information: ir@hugogames.com

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