2

GAME Digital plc 2015 Full Year Results Presentation

15 OCTOBER 2015

3

FORWARD LOOKING STATEMENTS

This presentation includes statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believe”, “estimates”, “plans”, “projects”, “anticipates”, “expects”, “intends”, “may”, “will”, or “should” or, in each case, their negative or othervariations or comparable terminology. These forward-looking statements include matters that are not historical facts and include statements regarding the Company’s intentions, beliefsor current expectations.

Any forward-looking statements in this presentation reflect the Company’s current expectations and projections about future events. By their nature, forward-looking statements involvea number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Theserisks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in thispresentation regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. You should not place undue reliance onforward-looking statements, which speak only as of the date of this presentation. No representations or warranties are made as to the accuracy of such statements, estimates orprojections.

Please note that the Directors of the Company are, in making this presentation, not seeking to encourage shareholders to either buy or sell shares in the Company. Shareholders in anydoubt about what action to take are recommended to seek financial advice from an independent financial advisor authorised by the Financial Services and Markets Act 2000.

4

AGENDA

Introductory remarks

Business updateGroup financial review

Q&A

Martyn GibbsGroup CEO

Mark GiffordGroup CFO

Martyn GibbsGroup CEO

5

INTRODUCTORY REMARKS

Good recovery in EBITDA

Margin profile significantly progressed

Performance from new categories strongly up

STRONG H2 TRADING PERFORMANCE

WELL CAPITALISED; DISCIPLINED CAPITAL MANAGEMENT

GROUP DEVELOPMENT CONTINUES AT PACE

Positive cash generation with working capital improvements Significant net cash position and new and increased revolving credit facilities in place

£50m of capital returned to shareholders £25 million interim and final dividend

£25 million special dividend

Acquisition of Multiplay in March, a leading events, eSports and web hosting business Added 44 GameStop stores

Further progress with digital and customer engagement initiatives including App / GAME Wallet

POSITIVE OUTLOOK Well prepared for Black Friday and peak Growing base of XB1 / PS4 customers

Significant activity planned for 2016 across the Group; Cost investment for growth

6

Financial Review

MARK GIFFORDGROUP CFO

7

GROUP STRATEGY

Clear strategy to develop and grow the Group businesses under Martyn and his strengthened management team

Maximising current cycle combined with new category development and expansion

Other retail diversification opportunities

Gaming events & esports

Digital solutions

Other opportunities particularly around multi-channel growth

Exciting period for the industry and the business

Clear focus on pace of change and delivery

CLEAR GROWTH STRATEGY

8

FINANCIAL HEADLINES – CORE BUSINESS

FY growth in GTV +2.3%; +4.5% on a constant currency basis

GTV growth driven by Content, Preowned and AT&O performance

GTV growth excluding Hardware up 5.2% in FY and +7.4% in H2

FY Gross Profit growth of +1.9%; +4.1% on a constant currency basis

H2 Gross Profit up +8.7%

Core business growing well through favourable cyclical effects and through successful introduction and development of new categories

Cost realignment, with higher net marketing costs and full costs of operating as a listed business, completed

FY EBITDA declined to £46.9m given higher costs but strong recovery in H2, with c.£4m EBITDA improvement

All figures in £’m (unless stated) 2015 2014 VAR %Gross Transaction Value

Full Year 962.4 940.5 2.3

Full Year Excluding Hardware 704.2 669.6 5.2

H2 Excluding Hardware 257.6 239.9 7.4

Gross Profit

Full Year 213.7 209.7 1.9

H2 78.5 72.2 8.7

Operating costs pre exceptional & adjusting items (175.3) (165.2) 6.1

Adjusted EBITDA

Full Year 46.9 51.3 (8.6)

H2 3.9 - n/a

POSITIVE GROWTH, STRENGTHENING MOMENTUM WITH COST REALIGNMENT

9

FINANCIAL HEADLINES - CONTINUED

FY Adjusted PBT of £38.0m but with lower effective tax rate due to previously unrecognised deferred tax assets EPS grew by 5.6%

Final dividend proposed of 7.35p, making total interim and final of 14.7p

Positive cash generation continued in the year

After special dividend of £25m releasing excess funds, net cash closed at £63m

Group remains well funded with new and increased banking facilities

All figures in £’m (unless stated)25 July

201526 July

2014VAR

%

Adjusted Profit before tax 38.0 39.8 (4.5)

Adjusted (basic) EPS 18.8p 17.8p 5.6

Dividend – Final proposed 7.35p - -

Net cash from operating activities 43.3 42.3 2.4

Net cash 63.0 83.7 (24.7)

1) Gross Transaction Value is a non-IFRS measure defined as total retail receipts excluding VAT and before the deduction of revenue deferral relating to reward points. Gross Transaction Value reflects the full sales value of digital sales,

agency sales (including sales by business partners on GAME’s Marketplace website), warranties and other similar arrangements and thereby includes the publishers’ and sellers’ shares of those transactions

POSITIVE CASH GENERATION CONTINUES; DIVIDEND PAID & ANNOUNCED

10

H2 PERFORMANCE

All figures in £’m (unless stated) H2 2015 H2 2014 VAR %Gross Transaction Value

Content 133.4 130.0 2.6Preowned 83.4 79.9 4.4Accessories, Toys-To-Life, & Other 40.8 30.1 35.6

Sub-Total 257.6 239.9 7.4Hardware 60.8 75.1 (19.0)

Total 318.4 315.0 1.1Gross Profit

Content 31.4 28.0 12.0Preowned 31.6 30.5 3.8Accessories, Toys-To-Life, & Other 11.9 9.6 23.8Hardware 3.6 4.1 (12.5)

Total 78.5 72.2 8.7Operating Costs pre exceptional and adjusting items and D&A 71.0 68.1 4.3Adjusted EBITDA 3.9 0.0

STRENGTHENING MOMENTUM; STRONG H2 PERFORMANCE

GTV ex Hardware up 7.4%

Total GTV up 1.1%

Total Gross Profit up 8.7% with margin positive across content, preowned and AT&O

Console GTV down with Gross Profit fall of £0.5m, 0.6% of total margin

Operating costs included for the first time, Multiplay costs of £1.1m

Core underlying operating costs ex Multiplay £69.9m vs. £68.1m, up 2.6%

Positive EBITDA performance driven by strong margin growth and well managed costs

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2015 GTV BY CATEGORY

43%

27%

19%

11% 00000000000000000000000000000000000

Strong digital content growth +28.1%

New generation software strongly up

July15£m

July 14£m

VAR%

Content 414.6 405.6 2.2

Preowned 185.9 171.4 8.5

A,T&O1 103.7 92.6 12.0

Sub-total 704.2 669.6 5.2

Hardware 258.2 270.9 (4.7)

Total 962.4 940.5 2.3

Group GTV Mix, %

Strong volume increase in PS4 / XB1 offset by lower average selling prices and decline in sales of prior generation consoles

Growth in Accessories, Toys-To-Life and Licensed product sales

Includes 5 months of Multiplay contribution

Driven by preowned tech sales, +100%

Increasing next gen H/W + S/W contribution

1) Accessories, Toys-To-Life and Other category

CORE CONTENT GROWING; NEW CATEGORIES ESTABLISHED AND GROWING RAPIDLY

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84.1

63.0

23.9

2.9

94.0

66.4

28.820.5

101.3

70.6

31.5

10.3

Content Preowned Accessories, Toys-To-Life & Other

Hardware

2013 2014 2015

3 YEAR GROSS PROFIT PROGRESSION BY CATEGORY

CORE CONTENT MARGINS STRENGTHENING; NEW CATEGORIES ESTABLISHED AND GROWING

+8%

+6%

+9%

Content margin +7.8% in 2015 and cumulatively 20% in last 2 years

GP rates continue to increase with higher mix of new gen games

Preowned +6.3% in year driven by GAMEtronics

AT&O margins up 9.4% in the year and over 30% in last 2 years

Category now well established with new and developing product lines

Key focus for growth now and going forward

Margin for Hardware remains low but as more next gen consoles have been sold customer engagement is re-ignited with linked sales of other higher margin categories

24.4%23.1%

38.0%38.8%

31.6%31.9%

4.0%7.5%

1Y %

+32%

+20%

+12%

2Y %

23.8%

36.5%

30.0%

2.6%

GP%

Figures are £m values unless % provided

13

Positive GTV and GP growth in UK

Operating cost increase impacted FY EBITDA but with cost realignment completed in UK, H2 EBITDA improved

Spanish GTV up 7.3% in local currency helped by addition of 44 GameStop Spain stores

Spanish LFL sales +1.3%

Spanish EBITDA +1.6% on LY in local currency but down 4% in sterling

UK July 15£m

July 14£m

VAR%

GTV 733.2 707.8 3.6

Gross Profit 162.0 157.1 3.1

Adjusted EBITDA 36.6 40.6 (9.9)

Spain July 15£m

July 14£m

VAR%

LC VAR %

GTV 229.2 232.7 (1.5) 7.3

Gross Profit 51.7 52.6 (1.7) 6.9

Adjusted EBITDA 10.3 10.7 (3.7) 1.6

REGIONAL PERFORMANCE

#1 MARKET POSITIONS AND GROWTH IN BOTH MARKETS; SPANISH POSITION EVEN STRONGER WITH GAMESTOP EXIT

LC = Local Currency (EUR)

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OPERATING EXPENSES

July 15£m

July 14£m

VAR%

Selling & Distribution (140.3) (133.4) +5.2

Administrative (47.2) (51.5) (8.3)

Of which exceptional items - (8.4) -

Of which adjusting items (12.2) (3.0) -

Administrative expenses pre exceptional and adjusting items

(35.0) (31.8) +10.1

Total Operating expenses pre exceptional and adjusting items

(175.3) (165.2) +6.1

as % of revenues 20.2% 19.1%

£2.1m (4%) rise in store payroll

Rent declined £2.6m to £33.2m

£1.4m increase in depreciation and amortisation

£2.8m increase in net marketing costs

Underlying £3.2m increase in Administrative costs driven by:

£1.1m of Multiplay overheads

£2.1m of PLC costs

Summary

Total operating costs of £175.3m, up £10.1m in year

Costs ex-realigned costs and Multiplay up £4.1m or 2.5%

Store rent savings offset by store payroll increases and other inflationary increases

COST REALIGNMENT COMPLETE

Cost realignment:

Net marketing costs £2.8m

Incremental PLC costs of £2.1m

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CASH FLOW AND NET CASH

OPERATING CASH FLOW £m

Operating Profit 26.2

Depreciation & Amortisation 17.0

Working capital & other items 3.7

OPERATING CASH FLOW 46.9

FREE CASH FLOW £m

Operating cash flow 46.9

Capital expenditure (11.3)

Taxation and interest (3.4)

FREE CASH FLOW 32.2

CASH GENERATION £m

Free cash flow 32.2

Interim dividend (12.4)

Acquisition of subsidiary (12.4)

Acquisition of investment (0.2)

CASH GENERATION 7.2

NET CASH £m

OPENING NET CASH 83.7

Cash generation 7.2

FX (3.1)

Special dividend (24.8)

CLOSING NET CASH 63.0

Positive operating cash flow from core business of £46.9m

Capital expenditure to grow the business of £11.3m

Dividends Paid

Timings allowed cash funding of Multiplay acquisition and £7m of positive cash generation

Excess cash returned to shareholders

DIVIDENDS PAID; INVESTMENT FOR GROWTH

16

CAPITAL EXPENDITURE

CAPITAL INVESTMENT TO GROW THE BUSINESS

Capex at 24% of Adjusted EBITDA (2014: 22%) and 1.2% of GTV (2014: 1.2%)

Strategic investments in digital, online and technology

Further store developments to support GAMEtronics and other growth categories

Higher capex planned in 2016

Continued investment in digital and online

Multiplay initiatives

30%

46%

24%

41%

40%

19%

2013/14 2014/15

£11.4 million £11.3 million

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BALANCE SHEET, WORKING CAPITAL AND TREASURY

£m July 15 July 14

Tangible fixed assets 19.2 18.1Investments 0.2 -Intangible assets 61.0 54.8Inventory 66.8 57.6Trade and other receivables 18.7 21.2Trade and other payables (92.8) (82.1)Cash (net of borrowings) 63.0 83.7Other liabilities (9.9) (8.9)Net assets 126.2 144.4

Inventory 66.8 57.6Trade receivables 7.0 6.1Trade payables (37.8) (32.1)Trade working capital 36.0 31.6

Strong cash position

New £30m UK RCF facility replaces £25m ABL facility

€38.5m RCF facility available in Spain

Inventory increased 16% to £66.8m due to new releases at the time of the year end and higher GAMEtronics stock to support sales demand

Net investment in trade working capital increased by £4.4m, or 13.9%, to £36.0m

Working capital management improvements outside of standard stock and trade suppliers and generated from credit control and gift card benefits

STRONG CASH POSITION AND IMPROVED FACILITIES; INVESTMENT IN STOCK IN NEW GROWING CATEGORIES

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STORE PORTFOLIO MANAGEMENT

UK Spain Group

Stores opened during the year 2 46* 48

Stores closed during the year 4 11 13

# of store relocations 2 1 3

Stores at period end 319 275 594

Average sq. footage 1,226 802 1,039

Average length to first break / lease expiry 2.1 1.2 1.9

2015 Rent, £m 33.2

UK movements largely repositioning

all UK stores profitable

Spain: closed 11 stores of which 2 were loss making

3 remaining loss making stores

Average length to first break of 1.9 yrs across the Group

44 GameStop stores added in Spain in October 2014

all stores profitable

average period to first break <1yr

* Includes GameStop stores transferred

WELL INVESTED AND WELL MANAGED STORE PORTFOLIO

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CURRENT TRADING AND FY15/16 GUIDANCE

FY15/16

Adjusted Operating costs1 c.+5%

Group Capital Expenditure c.£15m

Underlying Depreciation & Amortisation2 c.£12m

1) Before depreciation and amortisation2) Excludes brand and other acquired intangibles amortisation of £8.5m disclosed within adjusting items

Group trading in line with expectations year to date

Investing in faster growth areas in retail and investing in new divisions

c.5% underlying retail cost increase expected in the year

Annualisation of Multiplay and GameStop Spain store costs

Increased investment in Multiplay

Group capex increased in core retail business and Multiplay

Positive performance expected

INVESTING FOR GROWTH

20

Business Update

MARTYN GIBBSCEO

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Group Highlights

Business Update

Retail

eSports and Events

Digital Solutions

22

OVER

4.5mACTIVE REWARD

MEMBERS

OVER

1mMULTIPLAY

CUSTOMERS

OVER

1.5mAPP USERS

OVER

550kGAME WALLETCUSTOMERS

OVER

3mDIGITAL

CUSTOMERS

BUILDING THE MOST VALUABLE COMMUNITY OF GAMERS

CUSTOMER RECRUITMENT

ANDLIFETIME VALUE

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CONTINUED STRATEGIC PROGESS: 2014/15 HIGHLIGHTS

BUILD

on our position as the #1 destination for

gamers

DRIVE

digital sales

OPTIMISE

the omni-channel experience

EXPAND

beyond retail

DEVELOP

and champion technology

28%Increase in digital sales

100%GAMEtronics growth

Acquisition of

Over 550k users

Over 60%Share of console digital content in UK and Spain

Over 100,000Marketplace SKUs added Continued development

Over 4,000Community events hosted

750,000New registered app users

33% / 38%Market share in UK / Spain

24

ESPORTS & EVENTS

Insomnia, eSports and community events

SPECIALIST RETAIL

Existing retail operations in the UK and Spain and international eCommerce

DIGITAL SOLUTIONS

Partnering with suppliers and retailers utilising our digital platforms and expertise

25

SPECIALIST RETAIL

26

2014/15 MARKET vs. GAME RETAIL PERFORMANCE

1) Source: GfK Chart-Track (Based on value of retail sales of mint hardware, mint software, console digital content and gaming accessories), 52 weeks months to 25 July 2015. Spain figures in local currency

2) Gross Transaction Value (“GTV”) is a non-IFRS measure defined as total retail receipts excluding VAT, including publishers’ share of digital sales and before the deduction of the cost of Reward points. GTV provides a more comparable measure to market growth as it includes total digital receipts at till, rather than digital commissions

Market Share

Overall:

33% (FLAT)

Market Share

Overall:

38% (up 3%)

+0.4%

+3.6%

UK Market Growth GAME UK GTV

+0.3%+3.1%

+0.3%+3.3%

Software Digital Accessories Toys to Life

(3.2%)

+7.3%

Spain Market Growth GAME Spain GTV (LC)

+4.6% +11.7%

(0.3%)

+1.5%

Software Digital Accessories Toys to Life

27Source: IHS Screen Digest, GfK Chart-Track, IDG

0.4

2.4

4.3

6.8

9.0

11.1

13.014.4

0.9

3.7

0

2

4

6

8

10

12

14

1 2 3 4 5 6 7 8

Units

sol

d, m

illio

ns

Installed User Base in year following launch (UK)

PS3/XB360 PS4/XB1

LATEST CYCLE REMAINS WELL AHEAD OF PREVIOUS GENERATION

Years after launch

2014/15

ACCELERATED CUSTOMER RECRUITMENT FOR NEW GENERATION CONSOLES

28Note: Group software sales FY15 vs FY14 (UK & Spain)

NEW AND PREOWNED SOFTWARE GROWTH BY GENERATION

137%

-58%

266%

-30%-100%

-50%

0%

50%

100%

150%

200%

250%

300%

PS4/XB1 Growth Rates PS3/XB360 Growth Rates

New software Preowned software

2929

RANGE & PRODUCT DEVELOPMENT: FOCUS AREAS TO DRIVE MARGIN IMPROVEMENT THIS YEAR

Category

Hardware Content Preowned AT&O

1. New Release & Exclusives

2. Preowned core & GAMEtronics

3. Console & non-console digital

4. Toys-To-Life

5. Licensed products

6. Marketplace

7. PC gaming & Steam

8. VR

3030

1. NEW RELEASE & EXCLUSIVES

Over 100 exclusives last year including 25 of the top titles

Very strong line up of exclusives on upcoming releases

Preorders strongly up versus this time last year

Exclusives span software, accessories and consoles

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2. GROWING PREOWNED SALES

Total preowned sales up 8.5% in the year

GAMEtronics sales up 100%

Strong performance in both territories

Roll out of more GAMEtronics cabinets planned

Centralised distribution and investing in stock to improve availability

Expanded mobile/tablet accessories range

Core preowned H/W & S/W sales up 1.9%

New gen strongly up; older gen down

Strong marketing campaigns across trade-in, preowned and GAMEtronics

160bpt increase in customers trading-in

3232

3. DRIVING DIGITAL SALES

67.073.5

95.4

2013 2014 2015

Group digital sales (gross), £m

2.6

5.3

7.5

2013 2014 2015

DigitalProducts(‘000s)

55%60%

2014 2015

Console Market Share

Total digital sales growth +28% to £95.4m

Console sales +24%; Non-console sales +40%

Digital customers +22% y-o-y to 1.7m (UK & Spain)

2,000+ digital SKUs added (Console, PC, F2P)

Improved in store digital merchandising

51%

63%

2014 2015

33

ACCESSORIES, TOYS-TO-LIFE & OTHER (A,T&O)

Growing contribution (15% of GP in 2015)

GP +9% in 2015 to £31.5m; +24% in H2

Key areas of focus in 2016

Exclusives

Console & steam controllers etc..

Toys-To-Life - up over 80% TY

PC accessories - up over 500% TY

Private label (GAMEWare)

Licensed products

Marketplace

Virtual reality devices and peripherals

Steam machines

3434

• Continued programme of online and Marketplace improvements

• Major mobile site upgrade, App upgrade + new tablet optimised site

• Launching click & collect and improvements to our delivery proposition

• Investing in customer service teams and IT

• In store / online consumer finance launch

• Rolling out further digital screen initiatives to all UK stores backed by supplier partners

CUSTOMER AND OMNI-CHANNEL INVESTMENT FOR 2015/16

3535

NEW STORE EXPERIENCES

5vs5 eSports areas

Digital hardware screens

Licensed merchandise kiosks

Services station

Dedicated Trade-in counters

GAMEtronics Store in a Store

36

ESPORTS & EVENTS

3737

Over

1 million video plays

Over

10,000players

Over

11.5 million minutes watched

Significant eSports activity headlined by events at Insomnia

Hundreds of teams and thousands of players competed at I55

Plans to greatly expand eSports activity and coverage in 2016

Leveraging stores to activate eSports engagement

E S P O R T S

3838

Insomnia 55 largest ever event; 37,000 tickets sold (capacity reached)

Multi-year contract signed with the NEC, Birmingham, the UK’s largest venue

I56 tickets on sale in all 319 UK stores and online

First Insomnia presence in Spain in October at the Madrid Games Week

Plans to enter new territories in 2016

Investing to support planned growth in 2016

I55 Opening Ceremony28-31 August 2015

3939

Click to edit Master title style

Click to edit Master text styles

Second level

Third level

Fourth level

Fifth level

15/10/2015

Strong supplier presence at I55

Growing demand for space at I56

INCREASING SUPPLIER ENGAGEMENT AT INSOMNIA

I54 I55

All other Insomnia revenue GAME Partner revenue

3% 42%

“i55 was a great opportunity for Xbox to be part of a festival that brings together people of all ages to celebrate their shared love of gaming. Multiplay’s obvious expertise and professionalism in running such events made for a great experience.” Harvey Eagle, Marketing Director, Xbox

40

GROWING CONTRACT EVENTS

Significant 3rd party event management experience

Partnering on a growing # of major gaming events, including: Minecon, the annual, global official convention for the video

game Minecraft, hosted by Mojang

Record breaking attendance of 10,000

RuneFest, the annual event for the RuneScape community, hosted by Jagex

Multitude of other smaller events produced and managed, including: UK tour of the #1 selling title, Mortal Kombat X on behalf of

Warner Bros Interactive Entertainment

Upcoming Xbox One retail experience for Microsoft this peak

Significant opportunities to grow this business with support of supplier partners

2015 RETAIL TOUR

UK TOUR

41

4242

DIGITAL SOLUTIONS – OVERVIEW

Leveraging digital infrastructure and expertise into a range of services

Using existing platform; developing new capabilities

New team structure in place

Key future priorities:

Growing B2B and B2C income from Clanforge

Continued development of GAME Wallet & Scan it! to support core business

Drive digital adoption in core territories and internationally with Codebank

CODEBANK®

DIGITAL CODE DISTRIBUTION E-PAYMENT

MANAGED SERVER HOSTING 3D AUGMENTED REALITY

4343

CLANFORGE: WORLDWIDE MANAGED SERVER HOSTING FOR GAMES

14 years specialist games hosting experience

Strong partnerships with the worlds biggest hosting companies and transit providers

Investing in the platform and team to rapidly scale operations

Proprietary specialist software developed for the global hosting requirement of game developers and publishers

Growing licence fee income from publishers and developers

HOSTING PROVIDERS

CLANFORGEManaged Services

GAME

GAMERS

4444

GROWING DIGITAL SOLUTIONS

Further investment planned to support the continued growth in mobile, digital and online sales

Major GAME App refresh launching in early 2016

Continued Scan-it! and 3rd party App development

Global agreement with Microsoft (US) to develop App for Halo 5 launch

GAME Wallet development and adoption

45

CLOSING REMARKS

46

ESPORTS & EVENTS

STRATEGIC PRIORITIES FOR 2016

SPECIALIST RETAIL DIGITAL SOLUTIONS

BUILD

on our position as the #1 destination for

gamers

DRIVE

digital sales

OPTIMISE

the omni-channel experience

EXPAND

beyond retail

DEVELOP

and champion technology

4747

SUMMARY

Strong H2 performance

Clear strategy focused on maximising current console gaming appetite combined with new category development

New divisions established to target significant growth markets

Prepared for Black Friday and Christmas

Plans for 2016, including launch of VR, well developed

Investing for growth whilst maintaining financial discipline

48

49

RECONCILIATION TO ADJUSTED EBITDA

July 15£m

July 14£m

Operating profit 26.2 24.8

Depreciation and amortisation 17.0 15.1

of which Brand and other acquired intangibles amortisation

8.5 8.3

EBITDA 43.2 39.9

Exceptional costs - 8.4

Cost of IPO-related share-based payment compensation 2.2 0.3

Costs of post-acquisition remuneration 1.0 -

Cost of transferring GameStop Spain stores 0.2 -

Costs relating to the acquisition of Multiplay 0.3 -

Costs relating to the change in the business structure - 2.7

Adjusted EBITDA 46.9 51.3

No exceptional items in the year. 2014 exceptional items of £8.4 million primarily relate to the IPO

Adjusting amortisation charges increased by £0.2 million as a result of the acquisition of Multiplay

IPO-related share-based payment compensation increase £1.9 million reflecting full year impact

Post-acquisition remuneration of £1.0 million relates to cash and shares payable to certain Multiplay shareholders

£0.5 million of professional fees incurred in relation to Multiplay and GameStop Spain

Costs of £2.7 million in the prior year related to the change in business structure comprising advisory, investment monitoring fees and other holding company costs