Current Report No. 1/2022 ESPI – Execution of a letter of intent to define the framework rules of cooperation at the preparatory stage, aiming at the signing of an investment agreement and the establishment of a joint venture in the form of a capital company

January 17, 2022

Company: CHERRYPICK GAMES S.A.

Subject: Execution of a letter of intent to define the framework rules of cooperation at the preparatory stage, aiming at the signing of an investment agreement and the establishment of a joint venture in the form of a capital company.

Legal basis: Art. 17 sec. 1 MAR – confidential information.

Company:

The Management Board of Cherrypick Games S.A. (“Issuer”) informs that on January 17, 2022. The Issuer has entered into a letter of intent with an entity which is a producer and publisher of computer games for mobile devices (“Letter of Intent”). The subject of the Letter of Intent is the determination of framework rules of cooperation between the parties at the preparatory stage, aiming at the signing of an investment agreement and the establishment of a joint venture in the form of a capital company. The joint venture will be established for the purpose of production and release of mobile games based on the parties’ potential (the “Project”).

Under the Letter of Intent, it was agreed that the activities performed by the parties are performed for the purpose of undertaking future cooperation on the Project, and therefore the parties have no claims against each other in relation to the performance or non-performance of the activities. A possible investment agreement concluded between the parties will define the detailed activities to be undertaken in connection with the Project, however, the Letter of Intent does not impose an obligation to sign it.

The parties have agreed that the Letter of Intent expresses only a general intention to enter into cooperation and its subject and principles, constituting the starting point for further negotiations between the parties in this respect, and does not constitute a legally binding agreement, including a preliminary, conditional or binding agreement, nor does it constitute an offer to conclude an agreement and may not constitute the basis for any claims or demands.

Either party may withdraw from the Letter of Intent at any time.