PCF Group S.A.

Regulatory Filings • Jun 14, 2023

Conclusion of a development and publishing agreement with MicrosoftCorporationThe Management Board of PCF Group S.A. with itsregistered office in Warsaw (the "Company") hereby informs that on 13June 2023 the Company and Microsoft Corporation, with its principalplace of business in Redmond, Washington, USA, have entered into aDevelopment and Publishing Agreement (the "Agreement") regarding thedevelopment and delivery by the Company to the Publisher of the videogame from the AAA segment under the code name Project Maverick (the"Game") pursuant to the Product Appendix to the Agreement indicating theagreed timetable, including the milestones.

The development of the Game by the Company will be performed under thework for hire model, based on the intellectual property rights owned bythe Publisher and will be entirely financed by the Publisher whenadvancing by the Company of the development works under the milestones.

Total production budget for the Game is USD 30-50 million.

The scope and terms of the Agreement do not differ substantially fromthe terms of development and publishing agreements typically concludedfor this type of project.

The conclusion of the Agreement is in line with the update of theStrategy of the Company and the People Can Fly capital group announcedby the Company on 31 January 2023, according to which if there arecommercially attractive opportunities for cooperation with reputablepartners in the work-for-hire model, then the Company will take fulladvantage of them.