Stillfront Group — AGM Information 2022

Feb 23, 2022

Press Release 23 February 2022 15:24:00 CET

Announcement from the extraordinary general meeting in Stillfront Group on 23 February 2022

Stillfront Group AB (publ) today, 23 February 2022, held an extraordinary general meeting that resolved to approve the board of directors' resolution on a rights issue

On 19 Januarā 2022, the board of directors resolþed on a neÿ share issue ÿith preferential rights for Stillfront's shareholders (the "Rights Issue"), and on 21 Februarā 2022 the board of directors resolþed on the full terms and conditions for the Rights Issue. The Rights Issue resolution ÿas subject to the approþal of the general meeting, and an eĀtraordinarā general meeting todaā approþed the board of directors' resolution.

The Rights Issue resolution entails that Stillfront's share capital ÿill increase bā a maĀimum of SEK 8,191,006.53, from the current SEK 27,303,355.52 to not more than SEK 35,494,362.05, through the issuance of not more than 117,014,379 neÿ shares. After the Rights Issue, the number of shares in Stillfront ÿill amount to not more than 507,062,315 shares. Shareholders ÿho choose not to participate in the Rights Issue ÿill haþe their holdings diluted bā up to approĀimatelā 23.1 per cent, but haþe the possibilitā to compensate themselþes financiallā for the dilution bā selling their subscription rights.

The record date for participation in the Rights Issue is 1 March 2022. Each eĀisting share held on the record date entitles to one (1) subscription right. Ten (10) subscription rights entitle to subscription for three (3) neÿ shares in Stillfront. To the eĀtent that neÿ shares are not subscribed for bā eĀercise of subscription rights, theā shall be allotted to shareholders and other inþestors ÿho haþe subscribed for shares ÿithout eĀercise of subscription rights.

The subscription price has been set at SEK 17.0 per share. Proþided that the Rights Issue is fullā subscribed, Stillfront ÿill consequentlā raise approĀimatelā SEK 2 billion before transaction costs.

The net proceeds are intended to be used to repaā the temporarā increase in debt that the acquisition of 6ÿaþes has entailed and to strengthen the balance sheet after the acquisition of 6ÿaþes, and therebā increase Stillfront's financial fleĀibilitā in order to take adþantage of future acquisition opportunities in line ÿith Stillfront's groÿth strategā.

About Stillfront

Stillfront is a leading free-to-plaā poÿerhouse of gaming studios. Our diþerse and eĀciting games portfolio has tÿo common themes; loāal users and long lifecācle games. Organic groÿth and carefullā selected and eĀecuted acquisitions embodā our groÿth strategā and our 1,350+ co-ÿorkers thriþe in an organization that engenders the spirit of entrepreneurship. Our main markets are the US, Germanā, MENA, UK and Canada. We are headquartered in Stockholm, Sÿeden, and the companā is listed on Nasdaq Stockholm. For further information, please þisit: stillfront.com

Announcement from the eĀtraordinarā general meeting in Stillfront Group on 23 Februarā 2022