Current Report No. 1/2024 ESPI – Update of the Company’s development strategy

January 22, 2024

Subject: Update of the Company’s development strategy

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

Report content:

The Management Board of Cherrypick Games S.A., headquartered in Warsaw, Poland (the “Company”), announces that on 22 January 2024 it adopted and presented to the Supervisory Board an update of the Company’s development strategy, which sets the direction of activities and priorities for the years 2024-2027 (the “Strategy”).

In line with its objectives, the Company has expanded its strategy to include the production of premium games for release on multiple hardware platforms, including mobile devices, PCs, and consoles (Nintendo Switch, PlayStation, Xbox).

In the opinion of the Management Board, such productions will have a greater commercial potential for the Company than free2play or freemium productions, as a result of the observed changes and trends in the global games market and the Company’s structure and plans.

In the implementation of the Board’s Strategy, the use of the Company’s resources will be of particular importance, such as.:

• a strong development team, which was expanded in the period from 2022,
• experience gained in the production of the game “Kingdoms: Merge & Build”, which was released for all Apple devices, including phones, macOS computers and Apple tvOS (the Company is currently working on its adaptation for the Apple Vision Pro device),
• owned development and publishing accounts on all platforms mentioned above,
• business relationships with business partners with whom the Company has worked in recent years,
• proven external partners with whom the Company has collaborated, among others, in the production of the game “Kingdoms: Merge & Build”.among others, in the production of the game “Kingdoms: Merge & Build”.

The strategic goal for 2024-2027 is to produce and release at least two new premium multi-platform games. At the current stage of work, the Board allows for both collaboration with a publisher and the independent release of key titles.

The Company is currently working on a project with the working name ‘Papillon’.

In addition, management plans to release older games from its portfolio on new platforms between 2024 and 2027. The company may also continue to work with existing partners (Apple, Nine66), or engage with new partners for partner-funded projects.

The Management Board currently assumes that the implementation of the Strategy will be financed from the Company’s own funds, possibly from funds from potential publishing agreements, the implementation of projects financed by partners, or the commercialisation of games from the “back catalogue” (the release of the Company’s older games on new platforms), however the Company does not rule out raising external capital in order to make the Company’s development more dynamic.

A presentation of the Strategy is attached to this report.