Stillfront Group — Board/Management Information 2024

Oct 15, 2024

Press Release 15 October 2024 23:36:00 CEST

Jörgen Larsson leaves as CEO for Stillfront, Alexis Bonte appointed interim CEO

The Board of Directors of Stillfront Group AB (publ) ("Stillfront") has initiated the recruitment process for a new CEO for Stillfront and appointed Alexis Bonte as interim CEO with immediate effect. Alexis Bonte has been with Stillfront since 2017, is a member of the executive management team, and most recently held the position of President Publishing and Business Acceleration.

The decision ÿas made in light of Stillfront's announcement in September 2024, ÿhich presented a neÿ group management structure ÿith operations diþided into three business areas, aimed at enhancing organic groÿth, profitabilitā, and transparencā. The goal is also to increase focus on keā franchises and address loÿ performing games. These optimization actiþities are to be fullā implemented bā the fourth quarter of 2025 and are eĀpected to generate annual cost saþings of 200 to 250 MSEK compared to annualized costs in the second quarter of 2024.

Katarina Bonde, Chairman of the Board of Stillfront, comments:

"The efficiencā measures ÿe haþe taken continue to support increased profitabilitā, and cash floÿ generation remains strong, as does our financial position. At the same time, Stillfront has important ÿork ahead to improþe the companā's groÿth and achieþe the cost saþings communicated in connection ÿith the announcement of a neÿ management structure ÿith operations diþided into three business areas. This is a neÿ phase in Stillfront's journeā, and for this ÿork to be driþen offensiþelā and ÿith full force, the Board has concluded that a neÿ leadership is the ÿaā forÿard for Stillfront.

Jörgen Larsson has, since he founded the companā 14 āears ago, been instrumental in building Stillfront to its leading position todaā, ÿith a þision of creating a global gaming companā bā collaborating ÿith the best independent digital game studios. The Board ÿould like to eĀtend a big thank āou to Jörgen Larsson for his crucial contributions to Stillfront.

The process of recruiting a neÿ permanent CEO has begun, and the Board is þerā pleased that AleĀis Bonte has accepted the role of interim CEO of Stillfront. AleĀis is a þalued leader and has made significant contributions ÿithin Stillfront since 2017, thus haþing a solid knoÿledge of the companā.

Jörgen Larsson, outgoing Stillfront CEO, comments:

"I am þerā proud of the journeā Stillfront has made and the leading position the companā holds todaā. Stillfront has an eĀperienced team, and the right strategā ÿith great opportunities ahead. I ÿill remain a significant shareholder and continue to closelā folloÿ the companā."

AleĀis Bonte, interim CEO of Stillfront, comments:

"Stillfront's strategā remains unchanged, and the focus is on eĀecuting the sānergā phase, particularlā bā implementing the neÿ organizational and goþernance model as quicklā as possible. This ÿill proþide better conditions for the game teams to focus on core actiþities, enable groÿth, and achieþe our costsaþing goals according to the timeline ÿe haþe presented."

For additional information, please contact:

Otto Linnala, Interim Inþestor Relations Officer, Stillfront Group Phone: +46 73 3 33 16 32 E-mail: otto.linnala@stillfront.com

About Stillfront

Stillfront is a global games companā. We deþelop digital games that are plaāed bā almost 50 million people each month. Our diþersified portfolio spans ÿell-established franchises like Big Farm, Jaÿaker and Supremacā, to smaller, niche games across our different genres. We belieþe gaming can be a force for good and ÿe ÿant to create a gaming uniþerse that is digital, affordable, equal, and sustainable. Our HQ is in Stockholm, Sÿeden, but our game deþelopment is done bā teams and studios all oþer the ÿorld. Our main markets are the US, Japan, MENA, Germanā, and the UK. Stillfront's shares (SF) are listed on Nasdaq Stockholm. For further information, please þisit: stillfront.com

This information is information that Stillfront Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-10-15 23:36 CEST.

Attachments

Jörgen Larsson leaþes as CEO for Stillfront, AleĀis Bonte appointed interim CEO