PLAYSIDE STUDIOS LIMITED — Investor Presentation 2023

May 30, 2023

PlaySide Studios Limited ACN 154 789 554 75 Crockford Street Port Melbourne VIC 3207 Ph +61 407 880 693

31 May 2023

The Manager Company Announcements Office ASX Limited Level 6, 20 Bridge Street SYDNEY NSW 2000

INVESTOR PRESENTATION – NWR VANTAGE POINT CONFERENCE

To whom it may concern

Attached is a copy of an Investor Presentation to be delivered by PlaySide Studios at the NWR Vantage Point Conference later today. The presentation includes a company and industry overview, as well as a market update regarding the current value of our twelvemonth forward Work for Hire book.

For PlaySide Studios Limited Darren Briggs Company Secretary Ph: +61 407 880 693 Email: darren@playsidestudios.com

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NWR Vantage Point Conference

31.05.23

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• PlaySide is the largest game development company in Australia, having worked on 60+ titles across mobile, virtual and augmented reality, and PC.

Founded in 2011 and listed on the ASX in December 2020, PlaySide has 260+ staff with offices in Melbourne (HQ) and the Gold Coast.

2023 Copyright PlaySide Studios PTY LTD

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• Worked on 60+ game titles across mobile, virtual

• reality, augmented reality and PC

• Self-published games based on Original IP

• Third party publisher of Original IP titles from smaller independent (indie) studios

• Game development services (Work for Hire) for Meta, Activision Blizzard, TakeTwo Interactive, Skydance

• • 65% owned by founders and staff

• 12-month forward Work For Hire book of A$28.6m

• FY23 forecast revenue of $35m+

2023 Copyright PlaySide Studios PTY LTD

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VALUE CREATION PATH

NATURAL PROGRESSION TO LARGER PROJECTS

THE FUTURE

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• Growing publishing portfolio
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• PC/Console Titles

• Growing WFH Book

• AAA games using licensed IP

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MAJOR WFH
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ON PC / VR

PC TITLES LICENSED IP MOBILE MOBILE IP SMALL WFH FY19 FY20 FY21 FY22 FY23 $4m $7m $11m $20m $35m+ WFH ORIGINAL IP Note: FY22 revenue excludes $9m NFT sales, FY23E splits are indicative.

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• INDUSTRY OVERVIEW

VIDEO GAMES APPROACHING A US$200BN MARKET

CONSOLE $52BN

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PC $38BN

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VIDEO GAMES AS A % OF
GLOBAL ENTERTAINMENT &
MEDIA SECTOR SPEND
10.9%
6.1%
2017 2026E
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MOBILE
$92BN
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INDUSTRY OVERVIEW CROSSOVER APPEAL BETWEEN GAMING, TV & FILM MEDIA SUPER THE MARIO BROS LAST OF US ANIMATED FILM TV DRAMA (APRIL 2023) (JAN 2023) BASED ON VIDEO GAME BASED ON VIDEO GAME FRANCHISE FRANCHISE BIGGEST GLOBAL HIGHEST CUMULATIVE OPENING FOR AN AUDIENCE (30.4M) FOR ANIMATED FILM ANY HBO SERIES SINCE US$1.3BN+ GROSS TO DATE GAME OF THRONES HIGHEST-GROSSING FILM BASED ON A VIDEO GAME HOGWART’S RESIDENT LEGACY EVIL PC/CONSOLE GAME PC/CONSOLE GAME (FEB 2023) FRANCHISE BASED ON HARRY POTTER (1996-PRESENT) FRANCHISE SEVEN FILMS (2002-2021) US$1BN+ REVENUE YTD NETFLIX TV SERIES (2022) 12M COPIES IN FIRST TWO NEW GAME IN WEEKS DEVELOPMENT

LAST OF US TV DRAMA (JAN 2023) BASED ON VIDEO GAME FRANCHISE HIGHEST CUMULATIVE AUDIENCE (30.4M) FOR ANY HBO SERIES SINCE GAME OF THRONES HOGWART’S LEGACY PC/CONSOLE GAME (FEB 2023) BASED ON HARRY POTTER FRANCHISE US$1BN+ REVENUE YTD 12M COPIES IN FIRST TWO WEEKS

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2023 Copyright PlaySide Studios PTY LTD

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Sources: HBO, Warner Bros, Capcom, GamesIndustry.biz

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INDUSTRY OVERVIEW SEVERAL NEWER ENTRANTS EXPANDING GAMING INVESTMENT NETFLIX GAMES AMAZON GAMES META REALITY LABS LAUNCHED IN 2021 LAUNCHED IN 2012 LAUNCHED IN 2020 HIRED SENIOR CREATIVE ACQUIRES TWITCH STREAMING ACQUIRED OCULUS VR FOR DIRECTOR FROM HALO PLATFORM FOR US$1BN (2014) US$2BN (2014) (MICROSOFT) 1.7BN+ HOURS OF CONTENT 20M+ QUEST HEADSETS SOLD WATCHED IN THE MONTH OF ACQUIRED SIX GAMING SIGNIFICANT INVESTMENT IN APRIL 2023 STUDIOS OUTSOURCED GAME LAUNCHED FIRST PC TITLES (2016) 40 GAMES DUE FOR RELEASE DEVELOPMENT (INCLUDING LOST ARK (2019) REMAINS ONE OF IN 2023 SEVERAL PROJECTS WITH THE MOST-PLAYED PC GAMES PLAYSIDE) 86 GAMES IN DEVELOPMENT, TITLES IN DEVELOPMENT BASED INCLUDING 70 BY THIRD ACQUIRED NINE VR GAMING ON THE LORD OF THE RINGS PARTIES (INCLUDING PLAYSIDE) STUDIOS SINCE 2019 AND TOMB RAIDER

META REALITY LABS LAUNCHED IN 2020 ACQUIRED OCULUS VR FOR US$2BN (2014) 20M+ QUEST HEADSETS SOLD SIGNIFICANT INVESTMENT IN OUTSOURCED GAME DEVELOPMENT (INCLUDING SEVERAL PROJECTS WITH PLAYSIDE) ACQUIRED NINE VR GAMING STUDIOS SINCE 2019

HIRED SENIOR CREATIVE DIRECTOR FROM HALO (MICROSOFT) ACQUIRED SIX GAMING STUDIOS 40 GAMES DUE FOR RELEASE IN 2023

86 GAMES IN DEVELOPMENT, INCLUDING 70 BY THIRD PARTIES (INCLUDING PLAYSIDE)

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INVESTMENT FUND LAUNCHED IN 2021

FULLY OWNED BY THE SAUDI ARABIAN GOVERNMENT US$38BN SLATED FOR INVESTMENT ACQUIRED MOBILE DEVELOPER SCOPELY FOR US$5BN (2023)

STAKES IN NINTENDO (8%), EMBRACER (8%), CAPCOM, NEXON

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Sources: Netflix, SullyGnome, SteamCharts, GamesIndustry.biz, TechCrunch, Meta, Bloomberg

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INDUSTRY OVERVIEW DEMAND FOR CONTENT DRIVING MAJOR INDUSTRY CONSOLIDATION

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ACQUIRER: MICROSOFT TARGET: ACTIVISION BLIZZARD US$69BN (PROPOSED) BLIZZARD ENTERTAINMENT WORLD OF WARCRAFT, OVERWATCH, DIABLO KING DIGITAL ENTERTAINMENT CANDY CRUSH

ACQUIRER: SEGA ACQUIRER: TAKETWO ACQUIRER: SONY TARGET: ROVIO TARGET: ZYNGA TARGET: BUNGIE US$775M (PROPOSED) US$13BN (MAY 2022) US$4BN (JULY 2022) ANGRY BIRDS FARMVILLE DESTINY ZYGNA POKER HALO WORDS WITH FRIENDS MARATHON

ACQUIRER: EA TARGET: GLU MOBILE US$2BN (FEB 2021)

PORTFOLIO OF ~200 TOP-GROSSING AND AWARD-WINNING ORIGINAL & LICENSED IP MOBILE GAMES

ACTIVISION PUBLISHING CALL OF DUTY, TONY HAWK

Sources: Netflix, SullyGnome, SteamCharts, GamesIndustry.biz, TechCrunch, Meta, Bloomberg. Note: Not an exhaustive list of titles.

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INDUSTRY OVERVIEW STRATEGIC STAKES ACROSS THE LISTED MID-TIER STUDIO SPACE

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REMEDY ENTERTAINMENT A$500M MARKET CAP LISTED IN FINLAND PUBLISHING DEALS WITH EPIC, ROCKSTAR, TENCENT TENCENT: 5%

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DON’T NOD ENTERTAINMENT A$200M MARKET CAP LISTED IN FRANCE

DEVELOPER AND

CO-PRODUCER OF INDIE GAMES TENCENT: 23%

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PEOPLE CAN FLY (PCF GROUP SA) A$400M MARKET CAP LISTED IN POLAND PREVIOUS CO-DEV PROJECTS WITH EPIC PUBLISHING DEAL WITH SQUARE ENIX STRATEGIC SHIFT TO ORIGINAL IP KRAFTON: 10%

DEVOLVER A$250M MARKET CAP LISTED IN UK (AIM) INDIE GAMES PUBLISHER NETEASE: 8% SONY: 5%

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TINY BUILD A$200M MARKET CAP LISTED IN UK DEVELOPER AND PUBLISHER OF INDIE GAMES NETEASE: 14%

BLOOBER TEAM A$200M MARKET CAP LISTED IN FRANCE DEVELOPER OF INDIE GAMES TENCENT: 22%

2023 Copyright PlaySide Studios PTY LTD

Sources: Company websites and filings. Market capitalisations are rounded and calculated as at 26 May 2023.

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• MOBILE PORTFOLIO OF CONSISTENT MOBILE PERFORMERS

• More than a dozen active mobile titles excluding the Dumb Ways portfolio

• Mobile games based on licenses for Legally

• Blonde and The Godfather

• Five titles in the highly successful Warfare franchise delivering ~45% of mobile app store revenue (excl. Dumb Ways)

• Several new titles planned in FY24

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• DUMB WAYS TO DIE

GLOBAL FRANCHISE WITH MANY GROWTH LEVERS

• Acquired for A$2.25m from Metro Trains in 2021

• Expanded portfolio to include mobile games, card games, Web 3, merchandise

• Strong social media profile - approaching 300M YouTube views, top ten gaming TikTok account

• • Original Dumb Ways title #1 on the US App Store charts during February and March this year

• • More than 15m mobile game downloads in the last quarter

• Title being developed for Netflix Games

• Continuing to explore ways to expand audience reach

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PC/CONSOLE

PRODUCING HIT TITLES REMAINS OUR GOAL

• Age of Darkness (200k+ downloads to date)

• Award-winning real-time strategy game

• ~5,000 reviews on Steam (‘very positive’ rating)

• • Influential in signing recent WFH projects

• World Boss

• Influencer-driven first person shooter

• ‘Project Phoenix’ - PC & Console

• Indie title currently in development

• Early access in 2024

2023 Copyright PlaySide Studios PTY LTD

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PUBLISHING

GROWING PUBLISHING PORTFOLIO

• Established in July 2022

• Three key hires including Harley Homewood (Global Head of Publishing, ex-Team17)

• Investment in the latter stages of development

• • Indie titles where we can add value to the process

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• Published under our brand - quality over quantity

• Rapid payback supporting reinvestment

• Dynasty of the Sands

• First signing, Early Access on PC in 2024

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WORK FOR HIRE

PARTNERING WITH AAA STUDIOS

• Working for AAA studios on multi-year development projects across PC, virtual reality and mixed reality

• • Working on:

• Franchise titles

• Highly recognisable IP

• • Cutting edge VR/AR technology

• Profitable business segment

• • Provides us with the ability to fund larger Original IP projects

• Twelve-month forward WFH order book of A$28.6m as of 1 June

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SUMMARY RECORD FY23E PRODUCING HIT DEMAND FOR ORIGINAL IP REVENUE ($35M+) GAMING CONTENT TITLES REMAINS IS DRIVING OUR GOAL $28.6M TWELVECONTINUED MONTH FORWARD INDUSTRY STEADILY GROWING WFH BOOK INVESTMENT MOBILE PORTFOLIO $31M CASH DUMB WAYS TO DIE

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FIRST PUBLISHING WORK FOR HIRE TITLE SIGNED PARTNERING WITH AAA STUDIOS WORLD-CLASS TEAM ESTABLISHED TO BUILD PROFITABLE BUSINESS OUT A PORTFOLIO OF SEGMENT STRONG CONTENT

PC & CONSOLE TITLES W/LONGER DEV CYCLE

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