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<b><span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>Current
report no.</font></span></b><span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>
24/2024</font></span>
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<b><span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>Date
of preparation:</font></span></b><span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>
2024-10-02</font></span>
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<b><span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>Subject:</font></span></b><span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>
Conclusion of a publishing agreement for the game “Honeycomb: The World
Beyond”</font></span>
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<b><span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>Legal
basis:</font></span></b><span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>
Art. 17 item 1 of the Market Abuse Regulation – inside information</font></span>
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<b><span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>Contents:</font></span></b>
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<span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>The
Management Board of Frozen Way S.A. with its registered office in Cracow
(hereinafter: the Issuer) hereby informs that on October 1, 2024 a
publishing agreement (hereinafter: the Agreement) was concluded between
the Issuer and Snail Games USA Inc. with its registered office in Culver
City, USA (hereinafter: Snail Games), under which Snail Games became the
publisher of the game “Honeycomb: The World Beyond” (hereinafter: Game).</font></span>
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<span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>According
to the Agreement Snail Games has undertaken to pay the Issuer the lump
sum remuneration specified in the Agreement (hereinafter: the
Remuneration) in three equal installments after completion of the
following milestones:</font></span>
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<span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>-
the first installment will be paid within a week of signing the
Agreement;</font></span>
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<span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>-
the second installment will be paid within a week of accepting the Game
for final testing;</font></span>
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<span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>-
the third installment will be paid within 30 days after the premiere of
the Game in the versions for personal computers (hereinafter: PC) and
PlayStation 5 & Xbox Series consoles (hereinafter: Consoles).</font></span>
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<span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>In
exchange for the Remuneration paid to the Issuer, Snail Games will
acquire the right to share part of the net profit from the sales of the
Game. Snail Games’ share in the net profit from the sales of the Game
will decrease after Snail Games receives a refund of the Remuneration
paid to the Issuer. The Game will be released from Snail Games’
publishing accounts. Additionally, Snail Games has undertaken to cover
the costs of publishing and marketing the Game, which will not be
included in the Remuneration and thus will not affect the Issuer’s share
in the net profit from the sales of the Game.<br style=”font-variant: normal; white-space: pre-wrap”><br style=”font-variant: normal; white-space: pre-wrap”>All
Intellectual property rights to the Game, with the exception of
publishing rights and Snail Games’ share in the net profit from the
sales of the Game, remain with the Issuer.</font></span>
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<span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>In
connection with the conclusion of the Agreement, the Issuer decided to
increase the Game cost budget for PC and Consoles announced in ESPI
report no. 1/2024 from PLN 5.25 million to PLN 8 million. The
simultaneous release of the full version of the Game for PC and Consoles
has been postponed from September 2024 to June 2025.</font></span>
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<span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>The
Issuer’s Management Board decided to publish the above information due
to the fact that it may have a significant impact on the financial and
material situation of the Issuer and a potentially significant impact on
the valuation of the Issuer’s financial instruments.</font></span>
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<b><span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>Disclaimer:</font></span></b><span style=”font-variant: normal; white-space: pre-wrap”><font size=”11pt” face=”Calibri,sans-serif” color=”#000000″>
This English language translation has been prepared solely for the
convenience of English speaking readers. Despite all the efforts devoted
to this translation, certain discrepancies, omissions or approximations
may exist. In case of any differences between the Polish and the English
versions, the Polish version shall prevail. The Issuer, its
representatives and employees decline all responsibility in this regard.</font></span>
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