Managing Market Headwinds While Advancing Our Growth Agenda

SUMMARY OF INTERIM REPORT ONE, 1 JAN - 31 MARCH HIGHLIGHTS

• Revenue amounted to SEK 64 million (66), a decrease of 4%.
• EBITDA amounted to SEK 8 million (10), a decrease of 26%.
• EBIT amounted to SEK 2 million (4), a decrease of 64%.
• Profit before tax amounted to SEK -9 million (-6).
• Cash flow from operating activities before changes in working capital amounted to SEK -1 million (2).
• Earnings per share during the quarter amounted to SEK -0.4 (-0.2).

COMMENTS BY THE CEO - MANAGING MARKET HEADWINDS WHILE ADVANCING OUR GROWTH AGENDA

In the first quarter of 2025, M.O.B.A. Network faced a challenging environment marked by seasonal softness in ad revenues, global economic uncertainty, and lower user engagement impacting our key platforms. Despite these headwinds, we successfully advanced strategic initiatives, launched innovative features, and established M.O.B.A. Forge to drive future growth and diversification. Our continued investments and resilient performance in Union for Gamers underscore our determination to maintain momentum and deliver sustained long-term value.

A WEAKER START TO THE YEAR AFTER A STRONG 2024
After three consecutive quarters of record-breaking performance, the first quarter of 2025 was a disappointing one for M.O.B.A. Network. Revenue amounted to SEK 64 million (66), representing a decrease of 4%, and EBITDA reached SEK 8 million (10), a decline of 26% compared to the same period last year. The primary drivers behind this development were a decline in our active user base across our apps and certain websites, largely due to lower-than-expected engagement in League of Legends, reduced activity across some of our community platforms, and the effects of a weakened global economy.

SEASONAL CHALLENGES AND GLOBAL UNCERTAINTY IMPACTING AD REVENUES
It is also worth noting that the first quarter tends to be seasonally weaker across the digital advertising industry, as many companies reset their marketing budgets after the holiday season. Q1 is traditionally the most challenging quarter to forecast, and this year it proved to be especially unpredictable. Furthermore, increased global economic uncertainties, including the new tariffs introduced by the Trump administration and broader concerns around global trade tensions, are creating a more complex environment for businesses like ours. Given that the majority of our revenues are generated from US-based ad inventory, any slowdown or volatility in the US economy impacts our performance.

CONTINUED INVESTMENT IN PRODUCT INNOVATION
Despite these headwinds, our focus remains firmly on growth and innovation. We continue to invest in our products and we are pursuing an aggressive roadmap. During the quarter, we successfully launched two new key features in our flagship app, Porofessor, and we are developing features that will enhance its subscription offering. We see significant potential in this new recurring revenue stream and plan to start rolling out premium features from Q2 onwards.

LAUNCHING M.O.B.A. FORGE TO ACCELERATE GROWTH
We have launched M.O.B.A. Forge, a dedicated innovation hub within M.O.B.A. Network, aimed at accelerating product development, leveraging emerging technologies such as AI, and supporting our core product and tech teams. Our ambition with M.O.B.A. Forge is to future-proof growth, diversify revenue streams, and maintain leadership in the gaming and creator economy. The initiative is led by our Product Owner, Alex Ennerfelt, who is managing a skilled team of developers. The first product to emerge from M.O.B.A. Forge is already under development and is targeting a launch during Q2.

SOLID GROWTH IN UNION FOR GAMERS
In our Video Sales segment, Union for Gamers (UFG), revenue reached SEK 47 million (45), an increase of 6%, marking the fourth consecutive quarter of growth for this business area. Together with our strategic partner Mediacube, we have been actively expanding our revenue streams, with a focus on higher-margin opportunities. Notably, our fintech services — primarily creator withdrawal solutions - saw a remarkable increase, growing from SEK 60 thousand in Q1 2024 to SEK 372 thousand in Q1 2025, an increase of 518%. In addition, the number of connected creators in our network grew to 749 (702), an increase of 7%, strengthening our position and creating further momentum for future growth.

LOOKING AHEAD WITH CONFIDENCE AND DETERMINATION
As we look ahead, we remain confident and optimistic about the opportunities in front of us. While the broader environment presents uncertainties, our product portfolio is robust and full of potential. With a dedicated and talented team, we continue to build the world’s best tools, services, and content for gamers and creators. We are committed to driving growth with profitability in 2025 and beyond.

I want to express my sincere appreciation to our shareholders, our board, and the entire M.O.B.A. Network team. Together, we are laying the foundation for the next chapter of growth, innovation, and leadership in the gaming and creator economy.

Anders Ribbing

CEO, April 29th, 2025