Nazara Technologies Limited

99%

Nazara – PGConnects – London Q1FY26 marks a strong start to the year. Consolidated revenue grew 99% YoY to INR 498.8 crore, while EBITDA rose 90% YoY to INR 47.4 crore. Our core gaming business deli

INR 498.8 crore

PGConnects – London Q1FY26 marks a strong start to the year. Consolidated revenue grew 99% YoY to INR 498.8 crore, while EBITDA rose 90% YoY to INR 47.4 crore. Our core gaming business delivered a 24.4% EBITDA ma

90%

a strong start to the year. Consolidated revenue grew 99% YoY to INR 498.8 crore, while EBITDA rose 90% YoY to INR 47.4 crore. Our core gaming business delivered a 24.4% EBITDA margin, underscoring the

INR 47.4 crore

art to the year. Consolidated revenue grew 99% YoY to INR 498.8 crore, while EBITDA rose 90% YoY to INR 47.4 crore. Our core gaming business delivered a 24.4% EBITDA margin, underscoring the strength of our IP-led

24.4%

INR 498.8 crore, while EBITDA rose 90% YoY to INR 47.4 crore. Our core gaming business delivered a 24.4% EBITDA margin, underscoring the strength of our IP-led strategy. This quarter reflects the early r

118%

holders. Nitish Mittersain Joint MD and CEO 3 Q1FY26: Revenue, EBITDA and PAT up by 99%, 90% and 118% in Q1FY26 Nazara – PGConnects – London (All figures in INR Cr unless otherwise stated) Revenue

9.5%

from discontinued ops. Profit after tax Q1FY26 498.8 134.2 124.7 39.8 94.3 58.3 451.3 47.4 9.5% 0.0 5.2 64.5 77.1 54.9 (5.8) 60.7 (24.2) 14.9 51.3 Q1FY25 250.1 YoY 99.4% 85.0 40.9

99.4%

451.3 47.4 9.5% 0.0 5.2 64.5 77.1 54.9 (5.8) 60.7 (24.2) 14.9 51.3 Q1FY25 250.1 YoY 99.4% 85.0 40.9 16.3 51.3 31.7 225.2 24.9 10.0% 0.0 0.6 15.2 25.6 34.7 10.4 24.3 (0.7) 0.

10.0%

5.8) 60.7 (24.2) 14.9 51.3 Q1FY25 250.1 YoY 99.4% 85.0 40.9 16.3 51.3 31.7 225.2 24.9 10.0% 0.0 0.6 15.2 25.6 34.7 10.4 24.3 (0.7) 0.0 23.6 90.4% 58.3% 150.2% 117.6% 4 Financia

90.4%

0.9 16.3 51.3 31.7 225.2 24.9 10.0% 0.0 0.6 15.2 25.6 34.7 10.4 24.3 (0.7) 0.0 23.6 90.4% 58.3% 150.2% 117.6% 4 Financial Update: Core gaming margin at 24.4% in Q1FY26, overall EBITDA

58.3%

.3 51.3 31.7 225.2 24.9 10.0% 0.0 0.6 15.2 25.6 34.7 10.4 24.3 (0.7) 0.0 23.6 90.4% 58.3% 150.2% 117.6% 4 Financial Update: Core gaming margin at 24.4% in Q1FY26, overall EBITDA margin

150.2%

3 31.7 225.2 24.9 10.0% 0.0 0.6 15.2 25.6 34.7 10.4 24.3 (0.7) 0.0 23.6 90.4% 58.3% 150.2% 117.6% 4 Financial Update: Core gaming margin at 24.4% in Q1FY26, overall EBITDA margin of 9.5%

“Skill-based Real Money Gaming (RMG) 18-45 years old India (100%) Platform Fees Market leader in Poker in India Revenue: 191.8 EBITDA: (73.9) 15 Curve Games: Backing Our Winners, Investing in What’s Next Nazara – PGConnects – London Figures in INR Cr 54.6 38.0% 20.7 Revenue Q1FY26 EBITDA EBITDA% Note: Curve is consolidated into Nazara books from 1st April 2025 • FY26 is shaping up as a year of operational discipline and forward investment.”

“The Company partners with third-party developers by offering financial support, technical assistance, and creative guidance, while also managing marketing, distribution, and post-release support across PC, consoles, and mobile devices.”

“The game is scheduled for soft launch in FY26 22 Smaaash: Reviving and reinventing business under the new ownership Nazara – PGConnects – London Figures in Rs.”

“Smaaash consolidated into Nazara from June 6, 2025, and for this period, revenue and EBITDA for Smaaash are INR 8.06 Cr and INR 3.33 Cr respectively • Nazara completed the acquisition of Smaaash through the NCLT process in early FY26, marking its strategic foray into offline gaming and entertainment.”

“Plans are underway to scale it nationwide in FY26 • o Introduced BGMI tournaments as part of a broader e-sports activation roadmap Bringing Smaaash Back – Bigger & Better: We are working on a comprehensive revival plan focused on upgrading experiences, expanding IPs, and reigniting Smaaash’s brand energy to surpass its past glory, with the relaunch expected in FY27.”

“23 Funky Monkeys: Started off FY26 on a strong center expansion note Nazara – PGConnects – London Robust Growth Coupled with High EBITDA Margins Figures in Rs.”

“24 PokerBaazi: Rapid growth across key financial and operating metrics Nazara – PGConnects – London Key Financials1,2 (INR Crores) 191.8 +54% 124.7 -29.3 Q1FY25​ -73.9 Q1FY26 Net Revenue EBITDA Operating Metrics1 (INR Crores) • Moonshine Technology's net revenue for Q1 FY26 grew 54% YoY to • • • • INR 191.8 Cr, marking the best-ever quarter for the company.”

“PokerBaazi Gross Gaming Revenue (GGR) grew 46% YoY in Q1 FY26 to INR 434 Cr, driven by strong user engagement and product enhancements.”

“Under the agreement, NODWIN will be responsible for overseeing the media rights strategy for the Esports World Cup (EWC) in the region.”

“Cr 60.9 32.4% 19.8 48.1 11.2% 5.4 Q1FY25​ Q1FY26 Revenue EBITDA EBITDA% Average Monthly MAUs (million) 75.1 74.3 64.9 61.6 61.3 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 • Market Challenge: As intimated earlier, Sportskeeda is currently experiencing a dip in organic traffic in the US following Google’s March Core Update Strategic Action Plan: Management has swiftly implemented a comprehensive plan to mitigate the impact and ensure a strong recovery.”

Notes

2

Note

1

Note

1. Curve is consolidated into Nazara books from 1st April 2025 2. Revenue and EBITDA data for Smaaash is only for the post-consolidation period (June 6, 2025 to June 30, 2025) 14 Gaming: Marquee IPs to capture the large gaming market opportunity (2/2) Nazara – PGConnects – London Brand / IP Sub-segment Demographics Key Market Freemium 7-45 years old USA Offline Gaming 1-14 years old India (100%) Monetization Model Market Positioning Financials Q1 FY26, INR Cr In-App Purchases, Ads Popular IP in Casual Games Entry Ticketing and Birthday Parties Key Player in Kids Offline Entertainment Revenue: 11.3 EBITDA: 2.7 Margin: 24.3% Revenue: 4.9 EBITDA: 2.3 Margin: 47.7%. Skill-based Real Money Gaming (RMG) 18-45 years old India (100%) Platform Fees Market leader in Poker in India Revenue: 191.8 EBITDA: (73.9) 15 Curve Games: Backing Our Winners, Investing in What’s Next Nazara – PGConnects – London Figures in INR Cr 54.6 38.0% 20.7 Revenue Q1FY26 EBITDA EBITDA% Note: Curve is consolidated into

Notes

1. Metrics for iOS 2. CPT= Cost per Trial 3. Nazara has filed the Scheme of Arrangement with the stock exchanges for the amalgamation of Paper Boat Apps Pvt Ltd with Nazara, and the appointed date of the scheme would be 1st April 2025 20 Animal Jam: Among Top Ranked Apps for Kids in Apple App Store (9-11 years) Nazara – PGConnects – London Gamified Early Learning Geographies: USA 90% RoW 10% Audience: 8-12 years old (Majority girls) Revenue Model: IAP, Subscription Note: Ranking Based on App Annie Top Grossing rank for Kids between 9-11 years in the United States (iOS devices) 21 Animal Jam: 55% EBITDA growth, margin of 22.3% in Q1FY26 Nazara – PGConnects – London Q1 FY26: Healthy Growth and Profitability Figures in Rs. Cr 23.6 +12.1% 26.4 16.2% 3.8 22.3% 5.9 Q1FY25​ Q1FY26 Revenue EBITDA EBITDA% ▪ In Q1FY26, Animal Jam saw momentum in in-app purchases (IAPs). This growth was driven by high player engagement with premium content, community events such as the Wild Week for the Animal Ja

Notes

1. Net Revenue and EBITDA are for Moonshine Technologies, which operates Pokerbaazi, and operating metrics are for PokerBaazi. Moonshine is reported as an associate in the books. 2. All numbers are based on unaudited financials 25 Others 26 NODWIN Gaming: Continued growth in eSports events leading to revenue growth (1/2) Nazara – PGConnects – London Figures in INR Cr 106.1 +49% 71.0 -1.5 Q1FY25​ -11 Q1FY26 Revenue EBITDA • Revenue grew 49% YoY to INR 106.1 crores in Q1FY26, driven by growth in media rights • • NODWIN Gaming has partnered with the Esports World Cup Foundation (EWCF) to manage media rights sales and distribution across South Asia, including India, Bangladesh, Nepal, and surrounding countries. Under the agreement, NODWIN will be responsible for overseeing the media rights strategy for the Esports World Cup (EWC) in the region. The company will also serve as the EWC’s marketing partner for India, developing localised campaigns to promote the event. Facebook cumulative PUBG