Asmodee Group (ASMDEE) investor relations material

Opening remarks and agenda

• AGM opened in Karlstad; shareholders approved Ian Gulam as meeting chair, English as the meeting language, guest participation, and the agenda.

• The voting list represented 167,755,873 shares and 248,755,873 votes, equal to 70.86% of shares and 78.29% of votes.

Financial performance review

• FY2025/26 net sales reached €1.684bn, up 23% YoY and 26% organically; adjusted EBITDA rose 25% to €285m, with margin up 30 bps to 17%.

• Free cash flow after tax and lease payments was €199m; conversion was 70% vs 60% average over the prior four years. Leverage was 1.5x after M&A commitments and 2.0x including ATM Gaming pro forma.

• Trading card games contributed 60% of sales and board games ~30%; partner-published titles were almost three-quarters of sales, while own-published games generated ~2x the gross margin.

• Partner-published games grew 40%; own-studio games declined 5.8%, reflecting FX and lower Star Wars: Unlimited sales vs its FY2024/25 launch year.

• Capital expenditure was €23m, or 1.54% of net sales; 12-month rolling adjusted EBITDA margin was 17.4% at end-June, progressing toward the >18% medium-term target.

Board and executive committee updates

• Marc Nunes declined re-election after two years on the board; Anna Mossberg was proposed as a new director, bringing 30 years of international tech business experience and board roles at Swedbank, Swisscom, and Ringier.

• The nomination committee reported eight meetings, reviewed board evaluations and strategy, and noted a slight increase in director fees; it encouraged directors to hold shares.

• The chair thanked Marc for his founding, executive, and board contributions spanning more than 30 years.