Nazara Technologies Limited

INR 1,025

ming Platform Nazara Snapshot: Fast growing global platform with a diversified portfolio Revenue: INR 1,025 Cr in H1FY26 (+80.2% YoY) INR 526 Cr in Q2FY26 (+65.1% YoY) EBITDA: INR 109 Cr in H1FY26 (+118.5%

80.2%

shot: Fast growing global platform with a diversified portfolio Revenue: INR 1,025 Cr in H1FY26 (+80.2% YoY) INR 526 Cr in Q2FY26 (+65.1% YoY) EBITDA: INR 109 Cr in H1FY26 (+118.5% YoY), INR 62 Cr in Q

INR 526

growing global platform with a diversified portfolio Revenue: INR 1,025 Cr in H1FY26 (+80.2% YoY) INR 526 Cr in Q2FY26 (+65.1% YoY) EBITDA: INR 109 Cr in H1FY26 (+118.5% YoY), INR 62 Cr in Q2FY26 (+146.4

65.1%

with a diversified portfolio Revenue: INR 1,025 Cr in H1FY26 (+80.2% YoY) INR 526 Cr in Q2FY26 (+65.1% YoY) EBITDA: INR 109 Cr in H1FY26 (+118.5% YoY), INR 62 Cr in Q2FY26 (+146.4% YoY) 10.7% EBITDA

INR 109

portfolio Revenue: INR 1,025 Cr in H1FY26 (+80.2% YoY) INR 526 Cr in Q2FY26 (+65.1% YoY) EBITDA: INR 109 Cr in H1FY26 (+118.5% YoY), INR 62 Cr in Q2FY26 (+146.4% YoY) 10.7% EBITDA margin in H1FY26, 11.8

118.5%

1,025 Cr in H1FY26 (+80.2% YoY) INR 526 Cr in Q2FY26 (+65.1% YoY) EBITDA: INR 109 Cr in H1FY26 (+118.5% YoY), INR 62 Cr in Q2FY26 (+146.4% YoY) 10.7% EBITDA margin in H1FY26, 11.8% EBITDA margin in Q

INR 62

1FY26 (+80.2% YoY) INR 526 Cr in Q2FY26 (+65.1% YoY) EBITDA: INR 109 Cr in H1FY26 (+118.5% YoY), INR 62 Cr in Q2FY26 (+146.4% YoY) 10.7% EBITDA margin in H1FY26, 11.8% EBITDA margin in Q2FY26 23.2% an

146.4%

526 Cr in Q2FY26 (+65.1% YoY) EBITDA: INR 109 Cr in H1FY26 (+118.5% YoY), INR 62 Cr in Q2FY26 (+146.4% YoY) 10.7% EBITDA margin in H1FY26, 11.8% EBITDA margin in Q2FY26 23.2% and 22.1% Core Gaming EB

10.7%

FY26 (+65.1% YoY) EBITDA: INR 109 Cr in H1FY26 (+118.5% YoY), INR 62 Cr in Q2FY26 (+146.4% YoY) 10.7% EBITDA margin in H1FY26, 11.8% EBITDA margin in Q2FY26 23.2% and 22.1% Core Gaming EBITDA margin

11.8%

109 Cr in H1FY26 (+118.5% YoY), INR 62 Cr in Q2FY26 (+146.4% YoY) 10.7% EBITDA margin in H1FY26, 11.8% EBITDA margin in Q2FY26 23.2% and 22.1% Core Gaming EBITDA margin in H1FY26 and Q2FY26 respectiv

23.2%

INR 62 Cr in Q2FY26 (+146.4% YoY) 10.7% EBITDA margin in H1FY26, 11.8% EBITDA margin in Q2FY26 23.2% and 22.1% Core Gaming EBITDA margin in H1FY26 and Q2FY26 respectively INR 670 Cr in net cash as o

22.1%

in Q2FY26 (+146.4% YoY) 10.7% EBITDA margin in H1FY26, 11.8% EBITDA margin in Q2FY26 23.2% and 22.1% Core Gaming EBITDA margin in H1FY26 and Q2FY26 respectively INR 670 Cr in net cash as of Sep 30th

Note

7

Hit IPs

1

Platform Expansions

1

Notes

1

Note

1. 2. NM = Not meaningful Detailed break-up of Other Income, Impairment, and Share of Profit / (loss) provided in the next slide Q2FY26 526.5 170.1 116.4 50.9 77.9 49.2 464.5 62.0 11.8% 916.9 6.8 60.8 1,104.5 182.0 7.8 189.8 (223.7) (33.9) Q2FY25 318.9 129.9 39.6 18.1 67.6 38.6 293.8 25.2 7.9% 0.0 1.8 28.5 25.3 20.3 (2.7) 17.6 (1.2) 16.3 YoY 65.1% 146.4% 797.6% 978.4% NM H1FY26 1,025.2 304.2 241.2 90.7 172.3 107.4 915.8 109.4 10.7% 916.9 11.9 125.3 1,181.6 236.8 13.6 250.5 (247.9) 2.5 71.5 H1FY25 569.0 214.9 80.4 34.4 118.9 70.4 518.9 50.1 8.8% 0.0 2.3 43.7 50.9 54.9 (13.1) 41.8 (1.9) 39.9 26.4 YoY 80.2% 118.5% 331.1% 499.3% (93.8)% 170.8% Notes to Accounts Head Details Impairment Loss • Following recent regulatory developments in the Online Real Money Gaming Segment, Nazara recognized an impairment on its investment of INR 914.7 crores in Moonshine Technologies (PokerBaazi), based on the fair valuation as of 30 September 2025, in accordance with Ind AS 36 (Impairment of Assets) Other

Note

1. Revenue and EBITDA data for Q2FY25 for Love Island + Big Brother is only for the post-consolidation period (August 22, 2024 to September 30, 2024) 2. "WCC" includes Revenue and EBITDA figures for both World Cricket Championship and Ultimate Teen Patti 3. The mapping of the mobile gaming IPs and their respective subsidiaries is in Appendix 12 Mobile Gaming: Growth of 83% in Revenue and 109% in EBITDA in H1FY26 Revenue (INR Crores) EBITDA (INR Crores) 379 18 22 12 51 92 184 1.8X 207 27 12 48 98 23 H1FY25 H1FY26 73 2 6 4 11 16 34 H1FY26 2.1X 35 1 8 22 4 -1 H1FY25 Love Island + Big Brother Kiddopia Animal Jam WCC CATS+KOT Others

Note

1. Revenue and EBITDA data for Q2FY25 for Love Island + Big Brother is only for the post-consolidation period (August 22, 2024 to September 30, 2024) 2. "WCC" includes Revenue and EBITDA figures for both World Cricket Championship and Ultimate Teen Patti 13 Mobile Gaming: Systematic Growth framework in action Longevity: 13th Season of Love Island Game Featured in App Store Economics: Growth investment in Kiddopia at profitable economics RoI on Content: New Content Launches Uplift Revenue in Animal Jam Expansion: Planned launch of Animal Jam on Roblox, Expansion into Indian markets with Bigg Boss Kiddopia’s CPT moderated even as marketing spends rose in Q4FY25 Note: Detailed performance metrics for Kiddopia are in Appendix 14 PC & Console Publishing: High-margin monetization + expanding platform reach

Platform Expansions

Wobbly Life: 2 mn. units since launch, now being developed for Switch 2 Ongoing conversations to acquire IPs to add long- term value Performance (In INR crores) 115.3 60.7 18.7 39.5 Q2FY26 H1FY26 Revenue EBITDA • Nazara now has a profitable console/PC publishing engine • Hit IPs + platform expansion + optional IP ownership = long- term monetization for the business Note: Curve is consolidated into Nazara books from 1st April 2025 15 Offline Gaming: INR ~43 Cr in Revenue and INR ~12 Cr in EBITDA in H1FY26 Performance (In INR crores) 42.5 29.6 6.0 11.7 Q2FY26 Revenue EBITDA H1FY26

Note

1. H1FY26 Smaaash – INR 32.3 Cr in Revenue and 6.9 Cr in EBITDA; Funky Monkeys – INR 10.2 Cr in Revenue and INR 4.8 Cr in EBITDA 2. Q2FY26 Smaaash – INR 24.2 Cr in Revenue and INR 3.5 Cr in EBITDA; Funky Monkeys – INR 5.4 Cr in Revenue and INR 2.5 Cr in EBITDA 3. Revenue and EBITDA data for H1FY26 for Smaaash is only for the post-consolidation period (June 6, 2025 to September 30, 2025) 16 Offline Gaming Growth Levers: Scale with Discipline Funky Monkeys – Replicable Center Model Revamp of SMAASH- Experience 2.0 Operating Leverage: Scale Benefits + CRM • Centre expansion playbook in place: 3 new centers launched in Q2 FY26 • Total no of centres expanded to 14 in September 2025, up from 10 at the time of investment (February 2025) • Focused on experience upgrades, expansion, and brand rejuvenation • Smaaash is on track for an FY27 relaunch aimed at surpassing prior performance IP for events playbooks pricing, • Standardized procurement, leading to improved unit EBITDA • CRM-led repeat v

Note

1. Revenue and EBITDA figures for Q2FY25 are pertaining to only Datawrkz as Space and Time was consolidated in October 2024. Revenue and EBITDA figures for Q2FY26 include both Datawrkz and Space and Time 19 AdTech: Revenue Up 404% YoY, EBITDA Up 287% YoY in H1FY26 Revenue (INR Crores) EBITDA (INR Crores) 5.1X 3.9X 251.2 9.7 49.8 2.5 H1FY25 H1FY26 H1FY25 H1FY26 Note: Revenue and EBITDA figures for H1FY25 are pertaining to only Datawrkz as Space and Time was consolidated in October 2024. Revenue and EBITDA figures for H1FY26 include both Datawrkz and Space and Time 20 NODWIN: Core Business is Growing Profitably; Provision for Impairment of Freaks4U taken in Q2FY26 Revenue (INR Crores) EBITDA (INR Crores) Q2 Till Aug 2025 (INR Crores) Q2 Overall (INR Crores) 269 56 19 194 199 51 0 148 1 -2 0 (0.5) 1 -4 -21 (24) H1FY25 H1FY26 H1FY25 H1FY26 54 18 1 35 163 36 4 124 -2 Revenue 0.6 3 EBITDA -1 Revenue 3 EBITDA (12.4) -3 -12 NODWIN Core NODWIN New M&A (<12M) Freaks/Wings + Turkey 1 21 NODWIN: C