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STARBREEZEQ1 2018 Highlights9 MAY 2018

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Launch of Payday 2 for Switch

Announced and launch InkedOpen VR Park in DubaiOver subscribed share issuesStarVR listing on Taipei Exchange

Launch of Payday 2 for VR

Q1 Key deliveries

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Main FinancialTRENDS

MSEK

40,4%

19,6%

-24,3%

4,4%

92%

-40%

-20%

0%

20%

40%

60%

80%

100%

-60

-40

-20

0

20

40

60

80

100

120

140

Q1/

17

Q2/

17

Q3/

17

Q4/

17

Q1/

18

Net Sales EBITDA Net Sales YOY

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RECORD SALES AHEAD OF THE MAJOR GAME RELEASESfirst quarter 2018 Results/key figures

§Net sales increased by 92 percent

§PAYDAY generated SEK 25.1 million (24.1)

§Dead by Daylight generated SEK 62.0 million (20.9), boosted by the Dead by Daylight deal

§EBITDA increased by SEK 84 million

§Depreciation, amortization and impairments totaled SEK 42.6 million (15.5)

§ Financial net SEK -12.7 m (-5.5), due to higher interest expenses and StarVR share of loss

§The loss after tax SEK -5.2 million (-50.6)

SEKk 2018 2017Q1 Q1

Net sales 110,066 57,270EBITDA 48,840 -35,341Financial net -12,677 -5,456Profit (-loss) after tax -5,208 -50,628Earnings per share, SEK -0.02 -0.18

Net sales growth, % 92.2 40.4EBITDA margin, % 44.4 -61.7

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License deals 30%PC 26%

Dead BY Daylight 56%PAYDAY 23%

REVENUE BREAKDOWN Q1 2018

Console 24%

VR Center 1%SERVICES19%

other 21%

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Strong net sales development

33 37

115142

169

214

154 161177

197217 218 212

242

295

345362

382357 361

414

2013Q1

2013Q2

2013Q3

2013Q4

2014Q1

2014Q2

2014Q3

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2016Q4

2017Q1

2017Q2

2017Q3

2017Q4

2018Q1

Net sales, LTM (SEKm)

Net sales development, 2013 Q1–2018 Q1 Net sales by title per quarter, 2013 Q3–2018 Q11)

90

4032

51

30

48 48

72

50 4941

103 103 99

57

123

78

104110

2013Q3

2013Q4

2014Q1

2014Q2

2014Q3

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2016Q4

2017Q1

2017Q2

2017Q3

2017Q4

2018Q1

PAYDAY 2 Dead by Daylight RAID: World War II Other

1) Other equals residual of total net sales less mentioned games in graph

Largest game ~85–100% of net sales Largest game ~40–60%>12x increase

SEKm

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investmentssecuring future growth

14

7150

74

35

33

Q1 2017 Q1 2018Fixed assets (SEKm) Own games and technology (SEKm) Publishing projects (SEKm)

Investments during Q1 2018 vs Q1 2017, SEKm

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New functionbased p&L

Net sales 110.1

Capitalized costs 74.0

Total revenues 192.6

Operating expenses -143.7

EBITDA 48.9

Depreciations -42.6

EBIT 6.3

Net sales 110.1

Direct costs 76.9

Gross profit 33.1

Selling and marketing costs -9.9

Administrative expenses -25.5

Other revenue 8.5

EBIT 6.3

Old – Cost based New – function based

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Successful share issues powering accelerated growth

§ Successful directed issue of new shares to Swedish and international investors of SEK 238 million before transaction costs.

§ Oversubscribed rights issue raised SEK 152 million before transaction costs.

The new share issues…

§ to fully execute our plan to achieve revenue of at least SEK 2 billion in 2020,

§ to form and execute on a solid marketing plan for OTWD,

§ to make new great content for PAYDAY 2 until 2019,

§ accelerating the production plan for PAYDAY 3

§ and to continue to build momentum within our publishing business.

… enable us

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PAYDAY 2released on NINTEndoswitch

https://www.starbreeze.com/2018/02/payday-2-now-available-on-the-nintendo-switch-system-in-europe-and-australia/

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Payday 2:VR launch

https://www.starbreeze.com/2018/03/payday-2-vr-out-now-on-steam/

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At peak 91,000played payday 2 in april 0

50 000

100 000

150 000

200 000

250 000

300 000

apr-1

5

juli-

15

okt-1

5

jan-

16

apr-1

6

juli-

16

okt-1

6

jan-

17

apr-1

7

juli-

17

okt-1

7

jan-

18

apr-1

8

Concurrent players (avg) Concurrent players (peak)

Linear (Concurrent players (avg)) Linear (Concurrent players (peak))

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MAYA trailer reveal OTWD

https://www.starbreeze.com/2018/04/overkills-the-walking-dead-character-reveal-trailer-maya/

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Playstationmagazine -OTWD

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Dead by daylight the saw chapter

www.starbreeze.com/2018/01/dead-by-daylight-saw-chapter-launches-on-steam-xbox-one-and-playstation4/

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Dead by Daylight dream deal

https://www.starbreeze.com/2018/03/starbreeze-sells-rights-to-dead-by-daylight-to-behaviour-for-usd-16-million/

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10 CrownsPublishing

www.starbreeze.com/2018/02/starbreeze-publishing-signs-mohawk-games-strategy-title-10-crowns/

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Release of indie title inked

https://www.starbreeze.com/2018/04/puzzle-platformer-inked-available-now-on-steam/

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VR PARK dubai mall grand opening

https://www.starbreeze.com/2018/02/starbreeze-major-partner-to-emaar-entertainments-vr-park-opening-march-1st/

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StarVRlisted on Taipei exchange

https://www.starbreeze.com/2018/04/starvr-corporation-first-day-of-trading-on-tpexs-emerging-stocks-board/

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VR experience Hero wins award At tribeca

https://www.starbreeze.com/2018/04/ink-stories-vr-experience-hero-awarded-at-tribeca/

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The financial targets

361

~2,000 (financial target)

2017 2020E

current revenue generators

System Shock 3 Psychonauts 2

Revenue generators 2020

Net sales (SEKm)

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Questions?The Starbreeze team